SUNWODA(SZ:300207) Zheng Quan Ri Bao·2025-07-02 10:08Core Viewpoint - The company, Xinwanda, plans to issue H-shares and apply for listing on the Hong Kong Stock Exchange to enhance its international brand image and competitiveness, marking a significant step in its globalization strategy [2][3]. Group 1: Internationalization Strategy - Xinwanda is a leading player in the lithium battery sector in the A-share market, with a diversified business model that includes consumer batteries, power batteries, and energy storage systems [3]. - The planned H-share issuance is seen as a crucial move in the company's internationalization strategy, leveraging Hong Kong's financial hub status to broaden financing channels and optimize capital structure [3]. - The company aims to enhance its international brand recognition and expand its overseas market capabilities through the H-share platform, facilitating stronger international collaboration in technology, branding, and mergers [3]. Group 2: Financial Performance - In the first quarter, the company reported a revenue of 12.289 billion yuan, representing a year-on-year growth of 11.97%, and a net profit attributable to shareholders of 386 million yuan, up 21.23% year-on-year [3]. - The company plans to focus on emerging application scenarios such as power tools, electric two-wheelers, smart homes, low-altitude economy, and humanoid robots to create a diversified profit growth curve [3]. Group 3: Market Valuation and Capital Operations - Despite strong business performance, the company's valuation in the A-share market does not fully reflect its potential and global strategy, and the H-share listing is expected to open a valuation correction window [4]. - The Hong Kong market, with its mature mechanisms and international investor base, is anticipated to enhance the company's visibility and attract more international capital, aligning its valuation with global peers [4]. - The H-share listing will provide the company with greater capital operation flexibility, enabling strategic actions such as mergers, industry integration, and equity incentives, while also improving corporate governance and operational transparency [5]. Group 4: Global Production and Market Position - The company has established a global production layout with manufacturing bases in Vietnam and India, creating a "local production, local delivery" supply chain system [5]. - Xinwanda is continuously expanding its global customer base, laying a solid foundation for high-quality and sustainable growth [5]. - The rise of AI terminal devices is increasing demands for battery capacity density and energy management, positioning the company to leverage its technological expertise and industry chain collaboration to gain a competitive edge in the upcoming product upgrade wave [5].