It is reported that Xinwanda's car battery business has completed 6 billion yuan of financing, double the expected amount.

Thank you, Mr. Air, a netizen of CTOnews.com, for your clue delivery! CTOnews.com August 16 news, according to 36 krypton reports, Xinwanda's "Xinwanda Electric car Battery Company" (hereinafter referred to as "Xinwanda EVB") has completed a new round of financing of 6 billion yuan, much more than the previously planned amount of 3 billion yuan, estimated at between 22 and 23 billion yuan.

Previously, 36 krypton also said that Xinwanda EVB will be listed as the main body of an independent company, which is expected to be submitted to IPO in 2023-2024. Xinwanda Securities Department responded that it had not received any news, subject to the announcement.

CTOnews.com learned that the financial report showed that Xinwangda's total operating income in 2021 was 37.359 billion yuan, an increase of 25.82 percent over the same period last year, and the net profit attributed to the parent company was 916 million yuan, an increase of 14.18 percent over the same period last year.

In the field of power battery business, Xinwanda achieved 2.933 billion yuan in revenue in 2021, an increase of 584.67% over the same period last year. In terms of product development, Xinwanda power battery products focus on square aluminum shell cells, covering BEV, HEV, 48V and other application markets.

According to data released by the China Automotive Power Battery Industry Innovation Alliance, Xinwanda EVB ranked sixth among the top 15 domestic power battery loading companies with 2.37 per cent in June.