SUNWODA(SZ:300207) Xin Lang Cai Jing·2025-12-27 02:00Core Viewpoint - XINWANDA's subsidiary, XINWANDA Power Technology Co., Ltd., is being sued by Weirui Electric Vehicle Technology (Ningbo) Co., Ltd. for a contract dispute involving a claim of 2.314 billion RMB due to serious quality issues with battery cells delivered between June 2021 and December 2023 [1][4]. Company Overview - XINWANDA, headquartered in Shenzhen and established in 1997, initially focused on consumer battery pack business and entered the electric vehicle battery sector in October 2014 by founding XINWANDA Power [2][5]. - For the first three quarters of 2025, XINWANDA reported revenues of 43.534 billion RMB and a net profit of 1.405 billion RMB [5]. Legal Proceedings - The lawsuit has been formally accepted by the Ningbo Intermediate People's Court, with the case number (2025) Zhe 02 Min Chu 1870, and is currently in the pre-trial stage [1][4]. - The plaintiff claims significant economic losses due to the quality issues of the battery cells, seeking compensation for damages, as well as covering identification, legal fees, and all litigation costs [1][4]. Company Response - XINWANDA stated that all operations within the company and its subsidiaries are normal as of the announcement date and that the impact of the lawsuit on current or future profits cannot be assessed until the court's decision [1][4]. - The company is actively seeking a reasonable resolution and enhancing communication with relevant parties to resolve the litigation matter promptly [1][4]. Industry Context - Weirui Electric Vehicle Technology (Ningbo) Co., Ltd., the plaintiff, was established in 2013 and is part of Geely Holding Group, specializing in the research, manufacturing, sales, and after-sales service of new energy vehicle power batteries, drive systems, charging systems, and energy storage systems [2][5].