On May 27, UW Laser (688518) unveiled its strategic move to bolster its presence in the new energy sector by planning a RMB 50 million capital increase in Sunwoda Power. This investment will see UW Laser subscribe to 26.406 million newly issued shares, thereby securing a 0.1874% stake in the company post-capital increase. Sunwoda Power, a key subsidiary of Sunwoda, is at the forefront of R&D, production, and sales of power batteries, energy storage batteries, and associated battery systems tailored for new energy vehicles.

The recent financing round for Sunwoda Power has successfully garnered RMB 1.68 billion, attracting investments from a diverse array of sources. These include capital from major state-owned banks, local state-owned assets, as well as leading listed companies within the lithium battery industry. The influx of funds is earmarked for the construction of energy storage bases and the pursuit of R&D initiatives focused on cutting-edge core technologies, marking a significant step forward in the company's quest for innovation and market leadership.