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Sunwoda has made an announcement stating that its subsidiary, Sunwoda Electric Vehicle Power Battery, has successfully settled a dispute with VREMT during the first instance stage. As per the settlement, VREMT will withdraw its lawsuit once the 'Settlement Agreement' takes effect. According to the terms of the agreement, both parties will calculate the settlement amounts based on actual costs, considering factors such as the accumulated quality assurance deposits, the realizable value of the battery packs, and any potential subsequent expenses. It is anticipated that this settlement will positively influence the net profit attributable to the parent company of the listed entity by an amount ranging from RMB 500 million to RMB 800 million in the year 2025.
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