Fast Technology News, October 30 — Last night, Sunwoda issued an announcement that its power battery subsidiary, Sunwoda Power, has completed a new round of capital increase. Xiaomi invested 1.7 billion yuan through its wholly-owned subsidiary Hanxing Venture Capital. Following the implementation of the capital increase, Xiaomi holds a 5.34% equity stake in Sunwoda Power, making it the company's third-largest shareholder, with its stake trailing only Sunwoda's parent company and Li Auto.

Even before this round of investment, Xiaomi Auto had already entered into a supply partnership with Sunwoda Power. Sunwoda is a core strategic supplier of Xiaomi's Longjia battery, providing customized cells and building dedicated production lines for Xiaomi's Pengcheng series models.

This equity investment marks an upgrade in the relationship between the two parties — from a straightforward supply partnership to a deep strategic alignment — deepening collaboration in cell research and development, capacity assurance, and joint technology development.

Sunwoda Power's shareholder base is rather distinctive. Li Auto had already made its investment earlier and currently holds an 11.17% stake. This also makes Sunwoda Power one of the few battery companies in China backed simultaneously by two popular new energy vehicle makers, Xiaomi and Li Auto.

Following this capital increase, Sunwoda's parent company no longer controls Sunwoda Power, and the power business will no longer be consolidated into the group's financial statements. This accounting adjustment is expected to generate 3.2 billion to 4.5 billion yuan in net book profit for Sunwoda.

On the same day, Sunwoda released its latest financial report. In the first three quarters of 2026, Sunwoda recorded operating revenue of 63.462 billion yuan, up 45.78% year on year — its best performance for the period in company history.

Of that total, third-quarter revenue reached 25.284 billion yuan, up 52.78% year on year, with revenue continuing to climb. Net profit attributable to the parent company was 613 million yuan for the first three quarters, and 10.5671 million yuan for the third quarter alone.