SUNWODA(SZ:300207) Guan Cha Zhe Wang·2025-12-27 06:42Core Viewpoint - XINWANDA Electronics Co., Ltd. announced that its subsidiary, XINWANDA Power Technology Co., Ltd., has been sued by Weir Electric Vehicle Technology (Ningbo) Co., Ltd. for quality issues related to battery cells delivered between June 2021 and December 2023, with a compensation claim of RMB 2.314 billion [1][3]. Group 1: Legal Issues - Weir Electric claims that the battery cells provided by XINWANDA Power caused losses due to quality problems [1]. - The lawsuit demands compensation of RMB 2.314 billion, plus interest from the date of filing until actual payment [1][3]. - Weir Electric is a subsidiary of Geely Holding Group, focusing on the development and manufacturing of electric vehicle power batteries and related systems [3]. Group 2: Company Background - XINWANDA is a lithium battery supplier founded in Shenzhen, ranking sixth among Chinese power battery suppliers with a cumulative installation volume of 16.49 GWh in the first three quarters of 2023, a year-on-year increase of 0.25% [3]. - The cumulative net profit attributable to shareholders for XINWANDA in 2023 and 2024 is reported to be RMB 2.544 billion, nearly equivalent to the compensation amount claimed by Weir [6]. Group 3: Historical Context - The relationship between XINWANDA and Weir began in 2021 when they jointly established a battery manufacturing company to supply Geely's high-end brands [6]. - In April 2023, XINWANDA and Weir signed a cooperation agreement for a supercharging project, coinciding with the launch of XINWANDA's new "flash charging battery" [6]. - Issues began to surface in late 2024, with complaints from owners of the Zeekr 001 WE86 model regarding slow charging and battery capacity degradation, leading to a recall-like battery replacement initiative by Zeekr [9].