Sunwoda Unveils Impressive Profit Outlook and Strategic Investments in Lithium-ion Battery Factory, Subsidiary Stake Acquisition, and Battery Industry Chain Partnership

[Sunwoda Announces Three Major Moves] On the evening of July 15, Sunwoda announced that it expects its net profit attributable to shareholders of the company in the first half of 2024 to be between 767 million and 899 million yuan, representing a year-on-year increase of 75.00% to 105.00%. After excluding non-recurring gains and losses, its net profit is expected to be between 738 million and 870 million yuan, representing a year-on-year increase of 99.79% to 135.38%. On the same evening, Sunwoda released three investment plans:

Firstly, it plans to invest in a lithium-ion battery factory project in Vietnam with an investment amount not exceeding 2 billion yuan. Secondly, it intends to acquire equity held by minority shareholders of its controlled subsidiaries to enhance profitability. Thirdly, it will establish a partnership to extend its battery industry chain.