SUNWODA(SZ:300207) Di Yi Cai Jing·2025-12-29 06:16Core Viewpoint - The lawsuit filed by Weir Power against Xiwanda Power over quality issues with battery cells has led to a significant drop in Xiwanda's stock price, raising concerns about the company's financial outlook and reputation in the electric vehicle battery market [1][2]. Group 1: Lawsuit Details - Weir Power has filed a civil lawsuit against Xiwanda Power, claiming that battery cells delivered from June 2021 to December 2023 have quality issues, seeking over 2.3 billion yuan in damages [1]. - Weir Power, established in 2017, is backed by Geely Group, with its major shareholders being Zeekr and Geely Automobile [1]. - The collaboration between Geely and Xiwanda Power began in 2021, focusing on supplying battery cells for the PMA platform project [1]. Group 2: Product Issues - The Zeekr 001, which utilizes Xiwanda battery cells, sold over 70,000 units in 2022, with the WE86 version accounting for over 60% of sales [2]. - Customers reported issues with charging speed and inaccurate battery level readings, prompting Zeekr to conduct a battery health monitoring initiative [2]. - Although the battery issues did not meet warranty replacement standards, Zeekr offered free battery replacements to affected customers, leading to speculation that Xiwanda batteries were being replaced with those from CATL [2]. Group 3: Financial Implications - The amount in dispute in the lawsuit is significant, nearly equivalent to Xiwanda's projected net profit of 2.544 billion yuan for 2023 and 2024 combined [2]. - Xiwanda has stated that the lawsuit has not yet gone to trial, and the impact on current or future profits remains uncertain [3]. - The company is actively seeking a reasonable resolution and enhancing communication with relevant parties regarding the lawsuit [3].