Sunwoda EV to explore switching IPO to Hong Kong

Sunwoda Electric Vehicle Battery Co., a unit of Sunwoda Electronic Co., is considering an IPO in Hong Kong instead of Shenzhen due to slow approval processes for listings on mainland exchanges. The company had previously applied to list on Shenzhen’s ChiNext board and raised 1.65 billion yuan in a financing round. Talks with advisers regarding the IPO are ongoing, and the parent company’s shares have seen a slight increase this year but are down significantly from a 2021 peak. Sunwoda EVB supplies batteries to automakers like Dongfeng Motor Group and Geely Automobile.


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