欣旺达冲刺港股：年营收560亿净利5.3亿王明旺家族控制近30%股权

Core Viewpoint - XINWANDA Electronics Co., Ltd. is preparing for an IPO on the Hong Kong Stock Exchange, aiming to establish an "A+H" listing structure, following its previous listings in Shenzhen and Switzerland [2][3]. Company Overview - Founded in 1997, XINWANDA specializes in the research, design, manufacturing, and sales of lithium batteries, offering a comprehensive product matrix that includes consumer batteries, power batteries, and energy storage systems [2]. - The company reported annual revenues of 56 billion RMB, with a focus on a fully integrated business model from R&D to recycling [2]. Financial Performance - Revenue figures for XINWANDA are as follows: 52.16 billion RMB in 2022, 47.86 billion RMB in 2023, and projected 56 billion RMB in 2024 [5][8]. - Gross profit for the same years was 6.28 billion RMB, 6.12 billion RMB, and 8.20 billion RMB respectively [5][8]. - Operating profit for 2022, 2023, and 2024 was 941 million RMB, 584 million RMB, and 1.13 billion RMB respectively [8]. Production and Sales - As of March 31, 2025, XINWANDA had produced 148.2 million consumer batteries, 6.5 GWh of power batteries, and 4 million energy storage systems [6]. - The first quarter of 2025 saw consumer battery revenue of 6.61 billion RMB, accounting for 53.8% of total revenue, while power battery revenue was 3.05 billion RMB, making up 24.8% [6][7]. Geographic Distribution - XINWANDA operates 25 major production bases, with 19 located in China and 6 overseas in countries like India and Vietnam [4]. - In the first quarter of 2025, revenue from mainland China was 7.33 billion RMB, representing 59.6% of total revenue, while overseas revenue was 4.96 billion RMB, accounting for 40.4% [7]. Shareholding Structure - The Wang Mingwang family controls approximately 28% of XINWANDA's shares, with Wang Mingwang holding 19.6% and Wang Wei holding 7.18% [11][16].