Gasgoo Munich- On January 30, Sunwoda Electronic Co., Ltd. (300207.SZ) updated its listing application with Stock Exchange of Hong Kong Limited ("SEHK"). By supplementing the filing with the latest corporate information and financial data—and posting the updated documents on the exchange's website—the company has formally resubmitted its prospectus for a Hong Kong listing.
Image source: Sunwoda
Under the SEHK regulations, an A1 prospectus is valid for six months. Once it expires, applicants must update financial data and other details before resubmitting. In the current market, the listing process typically stretches beyond six months from the initial A1 filing. Consequently, allowing a prospectus to lapse and then refiling is standard industry practice—it does not indicate any irregularities in the company's operations or its IPO progress.
Sunwoda further emphasized that this lapse will have no material impact on its overall Hong Kong IPO timeline. The company continues to advance preparations steadily, aiming to complete the listing soon and inject capital momentum into its global expansion.
Official data shows that in the first three quarters of 2025, Sunwoda generated 43.534 billion yuan in revenue, up 13.73% year-on-year, while net profit attributable to shareholders rose 15.94% to 1.405 billion yuan. Both revenue and profit notched double-digit growth. The third quarter stood out in particular: revenue climbed 15.24% to 16.549 billion yuan, and net profit surged 41.51% to 550 million yuan. With gross margins improving by 3.66 percentage points quarter-over-quarter, profitability showed a marked turnaround.
On the technology front, Sunwoda poured 3.202 billion yuan into R&D during the first three quarters of 2025—a 41.20% jump. The company employs nearly 10,000 R&D personnel and holds over 5,000 authorized patents. In solid-state batteries, Sunwoda is making aggressive moves. It plans to launch its first polymer all-solid-state battery, the "Xin Bixiao," in the second half of 2025, boasting an energy density exceeding 400 Wh/kg alongside improved cycle life and safety. The first generation of semi-solid batteries is already in mass production, while the third generation of all-solid-state cells has completed laboratory verification. In fast-charging technology, Sunwoda introduced its Flash Charge 4.0 lineup. The Xingxingchi 2.0 long-range version supports 6C ultra-fast charging and achieves industry-leading energy density, meeting the demand for upgraded experiences in new energy products.
On the globalization front, Sunwoda is steadily expanding its footprint. It has planned or constructed 12 major production bases covering multiple Chinese provinces and countries including India, Vietnam, Hungary, and Thailand. The first phase of its Thailand plant has entered trial production, while the second phase is planned for a total capacity of 17.4 GWh. Construction is also underway at the Hungary base, which, once operational, is expected to shorten delivery cycles to the European market and comply with EU regulations. A successful Hong Kong IPO would allow Sunwoda to leverage the international capital market to secure funding for global capacity building, R&D, and business expansion—accelerating the execution of its global strategy.
