Sunwoda’s net income increased by 504.79% YoY in 2022Q3.

Shanghai (Gasgoo) – Sunwoda Electronic Co., Ltd. (“Sunwoda”) reached 14.866 billion yuan ($2.046 billion) in the third quarter of 2022 (the third quarter of 2022 or the reporting period), an increase of 50.14% compared to the previous year, the Chinese battery maker announced. last friday.

During the reporting period, Sunwoda earned approximately RMB 315.517 million ($43.417 million) in net profit attributable to shareholders, representing a sharp increase of 504.79% year-on-year.

Photo credit: Sunwoda

Excluding certain one-time gains and losses, the company’s third-quarter net profit attributable to shareholders rose only 3.51% year-on-year to 236.633 million yuan ($32.562 million).

For the first three months of 2022 (Q1-Q3 2022), Sunwoda reported revenue of RMB 36.584 billion ($5.034 billion, +43% YoY), resulting in total net income of RMB 687.546 million ($94.611 million, +2, 72% y/y). ) belongs to the shareholders.

Sunwoda said the jump in Q1-Q3 revenue was mainly due to an increase in orders over the corresponding period.

In the first nine months of the year, the company’s net cash flow from operating activities was 646.99 million yuan ($89.03 million), down 36.26%, mainly due to an increase in cash paid to and for employees.

In Jan.-Sept. Sunwoda recorded an installed battery capacity of 4.84GWh in China this year, ranking fifth among battery suppliers in the county with a market share of 2.5%, according to the China Automotive Battery Industry Innovation Alliance (CAPBIIA).