2024-06-21
According to foreign media reports, SEVB is considering listing in Hong Kong and expects to complete the listing plan in the next few quarters.
According to information, SEVB is a power battery company under Sunwoda (300207). It submitted an application for listing on the Shenzhen Growth Enterprise Market in July last year and appointed CITIC Securities as the sponsor.
SEVB raised RMB 1.65 billion in its latest round of financing, with a valuation of approximately RMB 36 billion.
Founded in 2014, SEVB is dedicated to providing global new energy vehicle companies with safe, environmentally friendly and efficient power battery system solutions from battery cells, modules, BMS to battery packs. The company has two R&D centers in Shenzhen, Guangdong and Huizhou, Guangdong, three lithium-ion power battery production bases in Nanjing, Jiangsu, Nanchang, Jiangxi and Huizhou, Guangdong, and has gradually established production bases in Zaozhuang, Shandong, Shifang, Sichuan, Yichang, Hubei, Yiwu, Zhejiang, etc. Its customers include well-known new energy vehicle companies at home and abroad, and it has established a synchronous joint development mechanism with customers on multiple mainstream models in the market.
According to statistics from the China Automotive Power Battery Industry Innovation Alliance, in 2022, SEVB's battery shipments reached 12.11GWh, and its installed capacity of power batteries ranked among the top five in China and the top ten in the world. In 2023, SEVB's installed capacity of power batteries was 6.57GWh, ranking eighth. Supporting automakers include Geely Auto, Xiaopeng Motors, Dongfeng Motor, SAIC-GM-Wuling, Dongfeng Liuzhou Motors, Ideal Auto, Jiangling Motors, etc.
With the rapid development of the new energy vehicle industry in recent years, the power battery industry has taken off. SEVB has seized the industry opportunities and its performance has continued to soar.
According to Wind data, the operating income of SEVB from 2020 to January-June 2023 was 475 million yuan, 2.909 billion yuan, 12.778 billion yuan, and 5.158 billion yuan, respectively. The year-on-year growth rates of revenue in 2021 and 2022 reached 512.2% and 339.2%, respectively, and the revenue scale in 2022 was nearly 13 billion.
However, SEVB is not yet profitable. Its net losses from 2020 to January-June 2023 were 324 million yuan, 304 million yuan, 405 million yuan and 393 million yuan, respectively.
From the perspective of financing history, according to Wind data, since the angel round in August 2021, SEVB has raised a total of 13.82 billion yuan. Investors include leading investment institutions such as IDG Capital, Cornerstone Capital, Huayou Holdings, Shenzhen Capital Group, National Green Development Fund, and CICC Industrial Investment Fund, as well as leading auto companies such as Dongfeng, SAIC, GAC, and NIO.
It is worth mentioning that on June 21, 2023, SEVB completed the last round of financing before the listing guidance. Eight institutions including China Life Equity, CCB Financial, and BOC Financial invested 1.65 billion yuan and acquired 4.64% of its shares. After calculation, the valuation of SEVB has reached about 36 billion yuan.
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