Business · Companies · 1 hr ago
Sunwoda revenue rises 45.78% as it ends Hong Kong listing plan
Sunwoda reported revenue of 63.462 billion yuan for the first nine months of 2026, up 45.78% from a year earlier.
The Chinese battery maker said revenue growth reflected expanding business and stronger customer ties, but its profit was under pressure from industry conditions and other costs.
Xiaomi invested in Sunwoda Power, a battery unit, and Sunwoda's stake fell to 22.78%.
Sunwoda Power will no longer be included in its parent company's consolidated accounts and will instead be treated as an affiliated company.
Sunwoda also ended its plan to list shares in Hong Kong, citing market conditions, changes within the company and its development plans.
The company said the decision should not have a major effect on daily operations, and its global expansion strategy remains in place.
Sunwoda reported revenue of 63.462 billion yuan in the first three quarters of 2026, up 45.78% year on year.
The company said it had ended its plan for a Hong Kong listing after considering market conditions, changes at the company and its development plans.
Third-quarter revenue was 25.284 billion yuan, up 52.78% year on year.
Sunwoda said the decision would not have a major impact on its daily operations or continued development.
The company’s stake in Sunwoda Power fell to 22.78% after the subsidiary brought in Xiaomi as a shareholder, and Sunwoda Power will no longer be included in Sunwoda’s consolidated statements.
- Who
- Sunwoda, a Chinese electronics company.
- What
- It reported higher revenue and said it was ending its plan for a Hong Kong listing.
- When
- The company disclosed the results and listing decision on October 29, 2026.
- Where
- Not stated
- Why
- Sunwoda said it considered market conditions, changes at the company and its development plans, while seeking to protect shareholders’ interests.
This story does not have two clearly opposing sides.
This story does not have a timeline yet.
- First-three-quarter revenue
- 63.462 billion yuan
- Year-on-year revenue growth
- 45.78%
- Third-quarter revenue
- 25.284 billion yuan
- Hong Kong listing plan
- Ended
- Sunwoda’s stake in Sunwoda Power after capital increase
- 22.78%
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What people are saying
This matter will not have a major impact on the company's daily operations or continued development.
This decision is only a choice about the timing at this stage, and does not mean a change in the direction of global development.