Gasgoo, Aug 26 — Sunwoda (300207.SZ) released its 2026 interim results on August 26. Driven by a rebound in the lithium battery sector and internal synergy, Sunwoda generated 38.18 billion yuan in first-half revenue. This represents a 41.48% annual increase and a record high for the period.
Source: Sunwoda
The consumer battery business remains a solid foundation. Consumer battery revenue increased 4% to 14.45 billion yuan in the first half. By shipments, Sunwoda commands over 30% of the global mobile phone battery market, ranking first worldwide. It ranks second in laptop and tablet batteries.
The growth trajectory for power and storage is clear. In power batteries, Sunwoda has established a niche in HEV batteries. It entered the sector in 2014 and secured a designation from the Renault-Nissan Alliance in 2018. Mass production of first-generation cells began in 2019. SNE Research data shows Sunwoda’s HEV lithium battery installations surged to the global top spot in Q2 2026. In the first half, EV battery shipments jumped 76.37% to 28.36 GWh, driving revenue up 85.87% to 14.13 billion yuan.
In energy storage, order books were full and capacity utilization remained high in the first half. This marks an accelerated phase of volume expansion. Cumulative production of the proprietary 684Ah laminated cell exceeded 2 million units. The 588Ah wound cell officially entered production at the Deyang base. Both products are now in mass supply. Driven by surging global demand for AIDC backup power, the company secured record orders for AIDC energy storage.
R&D spending continues to increase alongside a deepened "AI+" strategy. Sunwoda remains committed to innovation-driven growth, investing heavily in technology. First-half R&D expenditure reached 2.36 billion yuan, representing over 6% of revenue. Beyond deepening research in electrochemistry and materials, the company pursues its "AI+" strategy across management, manufacturing, and products. Due to breakthroughs in smart manufacturing and defect detection, its project "Key Technologies and Industrialization of Intelligent Manufacturing and Defect Detection for the Lithium Battery Industry" won second prize at the 2025 Wu Wenjun AI Science and Technology Progress Awards.
Global expansion and compliance capabilities are advancing together. The first phase of Sunwoda’s Thailand battery plant went online in the first half. Construction of the second phase launched simultaneously. Meanwhile, the power battery base in Hungary and consumer cell plant in Vietnam are progressing steadily. Amid tightening EU New Battery Regulation and digital product passport (DPP) requirements, Sunwoda is building a battery passport platform. This initiative ensures products meet overseas compliance standards. It aims to empower industry partners to navigate sustainability challenges in global operations.
Looking to the second half, Sunwoda’s earnings potential is set to grow. Major consumer electronics clients are entering a new device replacement cycle. New AIDC production lines are coming online, and the share of overseas customers continues to rise.
