ECM

Sunwoda (欣旺达) A+H Pre-IPO: Early Thoughts

07 Jul 2026 By Ke Yan, CFA
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Abstract: Sunwoda, a lithium-ion battery manufacturer, is seeking an A+H listing. Goldman Sachs and CITIC are the sponsors. We look at the company's core segments: consumer battery, EV battery and ESS. We discussed our preliminary thoughts on the company's valuation based on A-H premium.

SHENZHEN DESAY BATTERY TECHNOLOGY (000049 CH) GOTION HIGH-TECH (002074 CH) BYD (002594 CH) SINOHYTEC (2402 HK) LOPAL TECH (2465 HK) EVE ENERGY (300014 CH) SUNWODA ELECTRONIC (300207 CH) GUANGZHOU GREAT POWER ENERGY&TECHNOLOGY (300438 CH) CATL (300750 CH) CATL (3750 HK) JIANGSU LOPAL TECH (603906 CH) Sinohytec (688339 CH) FARASIS ENERGY (GAN ZHOU) (688567 CH) ZHUHAI COSMX BATTERY (688772 CH)

Highlighted Stocks

SHENZHEN DESAY BATTERY TECHNOLOGY, GOTION HIGH-TECH, BYD, SINOHYTEC, LOPAL TECH, EVE ENERGY, SUNWODA ELECTRONIC, GUANGZHOU GREAT POWER ENERGY&TECHNOLOGY, CATL, CATL, JIANGSU LOPAL TECH, Sinohytec, FARASIS ENERGY (GAN ZHOU), ZHUHAI COSMX BATTERY

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