On September 4, 2026, Li Auto subscribed for 8.79% of Xingwangda Power’s new registered capital of 2.65 billion yuan, becoming its second-largest shareholder. This capital increase was led by Li Auto, with Microsoft also participating, investing a total of 2.65 billion yuan to support Xingwangda Power’s research and development in battery technology and capacity expansion. After the capital increase, Xingwangda Power’s registered capital increased to 15.915 billion yuan, still controlled by Xingwangda and included in consolidated financial statements. Both parties will jointly promote technological upgrading in the new energy vehicle industry chain, deepen strategic cooperation in battery research and development, capacity support, and market expansion, to enhance financial strength, reduce the debt-to-asset ratio, and promote sustainable business development. Xingwangda Power was established in 2014, with revenues of 20.093 billion yuan and 15.529 billion yuan in 2025 and the first half of 2026, respectively, and net losses of 3.169 billion yuan and 324 million yuan, respectively.
On September 4, Li Auto subscribed to 8.79% of Xingwangda Power’s new registered capital worth 2.65 billion yuan, becoming its second-largest shareholder. After the capital increase, Xingwangda Power’s registered capital rose to 15.915 billion yuan, still under Xingwangda’s control and included in consolidated financial statements. This move aims to deepen strategic cooperation between the two parties in areas such as power battery research and development, production capacity support, and market expansion, enhancing Xingwangda Power’s financial strength, reducing its debt-to-asset ratio, and promoting the sustainable development of its electric vehicle battery business. Xingwangda Power was established in 2014, and in 2025 and the first half of 2026, it recorded revenues of 20.093 billion yuan and 15.529 billion yuan respectively, with net losses of 3.169 billion yuan and 324 million yuan.
Microsoft and Ideal Auto plan to jointly increase their investment in Sunwoda Power by 2.65 billion yuan. This investment is aimed at supporting Sunwoda Power’s research and development in battery technology as well as its capacity expansion. Both parties will work together to promote the technological upgrading of the new energy vehicle industry chain. After this transaction is completed, the equity structure of Sunwoda Power will be further optimized, laying a solid foundation for receiving more orders in the future.