Core Viewpoint - The lawsuit filed by Weirui Power against Xiwanda Power highlights significant quality issues with battery cells supplied by Xiwanda, leading to a claim exceeding 2.3 billion yuan, which is nearly equivalent to Xiwanda's net profit for 2023 and 2024 combined [3][4]. Group 1: Lawsuit Details - Xiwanda Power received a civil lawsuit from Weirui Power on December 25, 2025, alleging quality problems with battery cells delivered between June 2021 and December 2023 [3]. - Weirui Power, established in 2017 and backed by Geely, claims damages exceeding 2.3 billion yuan due to the alleged defects in the battery cells [3][4]. - The collaboration between Xiwanda and Weirui began in 2021, focusing on supplying battery cells for the PMA platform project developed by Geely and Volvo [3]. Group 2: Product Issues - The Zeekr 001, a key product using Xiwanda's battery cells, sold over 70,000 units in 2022, with the WE86 version accounting for more than 60% of sales [3]. - Customers reported issues with the Zeekr 001 WE86, including slow charging speeds and inaccurate battery level readings, indicating potential quality concerns [3][4]. Group 3: Company Response - In response to battery health concerns, Zeekr initiated a monitoring program and offered free battery replacements for affected customers, despite the issues not meeting warranty standards [4]. - Reports indicate that some customers received new battery packs labeled "CATL," suggesting a potential switch from Xiwanda's batteries to those from Contemporary Amperex Technology Co., Limited (CATL) [4]. - Xiwanda stated that the lawsuit has not yet gone to trial, and the outcome remains uncertain, with the company seeking to resolve the matter amicably [4].

Core Viewpoint - A subsidiary of XINWANDA, XINWANDA Power, is facing a lawsuit from Weirui Electric Vehicle Technology (Ningbo) Co., Ltd., claiming over 2.3 billion yuan due to quality issues with battery cells delivered between June 2021 and December 2023 [1] Group 1: Company Overview - XINWANDA announced the lawsuit on December 26, stating that the claim is based on alleged quality problems with battery cells supplied to Weirui Power [1] - Weirui Power, established in 2017, is primarily owned by companies within the Geely group, with Zeekr Automotive as the controlling shareholder and Geely Automobile as another major shareholder [1] Group 2: Partnership Background - The collaboration between Geely and XINWANDA Power began in April 2021 when XINWANDA Power received a letter of intent from Weirui Power for the development of battery cells for the PMA platform project [1] - The PMA platform, developed jointly by Geely and Volvo, is a modular electric architecture used in various brands including Zeekr, smart, Volvo, and Geely Geometry [1]

Core Viewpoint - The lawsuit filed by Weirui Power against Xiwanda Power for over 2.3 billion yuan highlights significant quality issues with battery cells supplied from June 2021 to December 2023, which could impact Xiwanda's financial performance and reputation in the electric vehicle battery market [1][2]. Group 1: Lawsuit Details - Weirui Power is suing Xiwanda Power for over 2.3 billion yuan due to quality issues with battery cells delivered during the specified period [1]. - Weirui Power, established in 2017, is primarily owned by Geely-related companies, with its major shareholder being Zeekr Automotive [1]. - The collaboration between Geely and Xiwanda Power began in 2021, focusing on supplying battery cells for the PMA platform project [1]. Group 2: Product Issues - The Zeekr 001, which utilizes Xiwanda battery cells, has faced complaints from users regarding slow charging speeds and inaccurate battery level readings [1]. - In December 2024, Zeekr announced a battery health monitoring initiative, revealing that some Zeekr 001 WE86 models exhibited charging speed issues and abnormal battery capacity degradation [2]. - Although the battery issues did not meet warranty replacement standards, Zeekr offered free battery replacements to affected users, leading to speculation that Xiwanda batteries were being replaced with those from CATL [2]. Group 3: Financial Implications - The total net profit attributable to shareholders for Xiwanda in 2023 and 2024 is reported to be 2.544 billion yuan, which is nearly equivalent to the amount being claimed in the lawsuit [2]. - Xiwanda has stated that the lawsuit has not yet gone to trial, and the outcome remains uncertain, making it difficult to assess the impact on current or future profits [2]. - The company is actively seeking a reasonable resolution to the lawsuit and is enhancing communication with relevant parties [2].

威睿电动汽车技术（宁波）有限公司（以下简称威睿公司）作为诉讼原告，提及欣旺达动力交付的电芯 存在质量问题。官网显示，威睿公司隶属于吉利控股集团。 欣旺达动力是欣旺达布局动力电池业务的重要载体，而欣旺达是国内动力电池头部企业。12月26日收 盘，欣旺达股价报29.75元/股，总市值达549.6亿元。 【导读】欣旺达子公司牵涉超23亿元诉讼，被指控交付电芯有质量问题 12月26日晚间，欣旺达（300207）发布《关于子公司重大诉讼事项的公告》称，公司子公司欣旺达动力 科技股份有限公司（以下简称欣旺达动力）作为被告，牵涉买卖合同纠纷诉讼案件，涉案金额达23.14 亿元。 官网显示，威睿公司创建于2013年，是一家专业从事新能源汽车动力电池、电驱动系统、充电系统、储 能系统的研发、制造、销售与售后服务的新能源科技公司。 天眼查显示，威睿公司的股东分别是极氪汽车（上海）有限公司、吉利汽车集团有限公司，持股比例分 别为51%、49%。 公告称当前无法判定诉讼影响 吉利系公司起诉欣旺达动力 公告显示，12月25日，欣旺达动力收到浙江省宁波市中级人民法院送达的民事起诉状、应诉通知书等诉 讼材料。 诉讼材料显示，威睿公司要求欣 ...

Core Viewpoint - XINWANDA's subsidiary, XINWANDA Power Technology Co., Ltd., is being sued by Weirui Electric Vehicle Technology (Ningbo) Co., Ltd. for a contract dispute involving a claim of 2.314 billion RMB due to serious quality issues with battery cells delivered between June 2021 and December 2023 [1][4]. Company Overview - XINWANDA, headquartered in Shenzhen and established in 1997, initially focused on consumer battery pack business and entered the electric vehicle battery sector in October 2014 by founding XINWANDA Power [2][5]. - For the first three quarters of 2025, XINWANDA reported revenues of 43.534 billion RMB and a net profit of 1.405 billion RMB [5]. Legal Proceedings - The lawsuit has been formally accepted by the Ningbo Intermediate People's Court, with the case number (2025) Zhe 02 Min Chu 1870, and is currently in the pre-trial stage [1][4]. - The plaintiff claims significant economic losses due to the quality issues of the battery cells, seeking compensation for damages, as well as covering identification, legal fees, and all litigation costs [1][4]. Company Response - XINWANDA stated that all operations within the company and its subsidiaries are normal as of the announcement date and that the impact of the lawsuit on current or future profits cannot be assessed until the court's decision [1][4]. - The company is actively seeking a reasonable resolution and enhancing communication with relevant parties to resolve the litigation matter promptly [1][4]. Industry Context - Weirui Electric Vehicle Technology (Ningbo) Co., Ltd., the plaintiff, was established in 2013 and is part of Geely Holding Group, specializing in the research, manufacturing, sales, and after-sales service of new energy vehicle power batteries, drive systems, charging systems, and energy storage systems [2][5].

Group 1 - The core issue involves a lawsuit against Xiwanda Power Technology Co., Ltd. for 2.314 billion yuan due to alleged quality issues with battery cells delivered to Weirui Electric Vehicle Technology Co., Ltd. [2][4] - The lawsuit has been accepted by the Ningbo Intermediate People's Court, with Weirui Electric seeking compensation for losses incurred from June 2021 to December 2023 [4][5]. - Xiwanda Power has reported significant revenue, exceeding 15 billion yuan in the past two years, but has also faced substantial losses of 1.56 billion yuan in 2023 and 1.87 billion yuan in 2024 [2][4]. Group 2 - Xiwanda Power was designated as a key supplier for Weirui Electric in April 2021, which coincides with the timeline of the alleged quality issues [3][5]. - The company had plans to spin off Xiwanda Power for a listing on the Shenzhen Stock Exchange's Growth Enterprise Market, but no progress has been made to date [6][7]. - Despite significant revenue growth from under 500 million yuan in 2020 to nearly 13 billion yuan in 2022, Xiwanda Power has continued to experience increasing losses [7].

Major Announcements - Daye Co., Ltd. states that its robotic tendon products are not yet in mass production and have not generated substantial revenue [9] - Shandong Road and Bridge's subsidiary won a construction project for the Yiyuan to Zoucheng expressway with a total bid price of approximately 94.02 billion yuan [14][15] - ST Chang Pharmaceutical's stock will be subject to a delisting risk warning starting December 29, 2025, due to negative net assets and false reporting in annual reports from 2021 to 2023 [8] Company Specific Updates - Yongding Co., Ltd. clarifies that it does not directly manufacture controllable nuclear fusion devices but provides materials for the winding of magnetic coils; its revenue from related activities is less than 1% of total revenue and is currently unprofitable [1] - Reascend Technology reports that it has no current orders for high-silicon oxide fiber products, and future order acquisition is highly uncertain; revenue from aerospace-related products is only about 0.5% of total revenue [2] - China Duty Free Group's subsidiary won a bid for the Beijing Capital International Airport duty-free project with a guaranteed operating fee of 480 million yuan for the first year [3] - XWANDA's subsidiary is involved in a lawsuit with a claim amount of approximately 2.314 billion yuan related to quality issues in battery cells delivered between June 2021 and December 2023 [4] - Zhejiang Rongtai plans to establish a joint venture in Thailand with Weichuang Electric to develop mechatronic systems for smart robots [5] - Defu Technology extends the deadline for acquiring shares in a Luxembourg copper foil company to January 9, 2026 [6][7] - Xinke Mobile states that its revenue from satellite internet is minimal and does not significantly impact overall performance [10] - Daya Intelligent received a notice from the China Securities Regulatory Commission regarding an investigation into information disclosure violations [11] Investment and Financial Updates - Guangdong Construction's subsidiary signed a framework agreement for a green methanol project with an estimated total investment of about 6 billion yuan [13] - XCMG Machinery's controlling shareholder plans to increase its stake by no less than 80 million yuan [18] - ST Guohua's major shareholder increased its stake to 26% without triggering mandatory tender offer obligations [19] - ST Zhanggu's stock will resume trading on December 29, 2025, following a capital increase from a restructuring plan [20] - Tianchuang Fashion's controlling shareholder will change to Anhui Xianrui, with stock resuming trading on December 29, 2025 [21]

欣旺达（300207）(300207.SZ)发布公告，公司的子公司欣旺达动力于2025年12月25日收到浙江省宁波 市中级人民法院送到的民事起诉状、应诉通知书(案号：(2025)浙02民初1870号)等诉讼材料。原告威睿 电动汽车技术(宁波)有限公司以被告欣旺达动力于2021年6月至2023年12月期间向原告交付的电芯存在 质量问题并给原告造成损失为由，提起诉讼要求被告履行支付赔偿金等款项的义务。涉案的金额23.14 亿元。 ...

智通财经APP讯，欣旺达(300207.SZ)发布公告，公司的子公司欣旺达动力于2025年12月25日收到浙江省 宁波市中级人民法院送到的民事起诉状、应诉通知书(案号：(2025)浙02民初1870号)等诉讼材料。原告 威睿电动汽车技术(宁波)有限公司以被告欣旺达动力于2021年6月至2023年12月期间向原告交付的电芯 存在质量问题并给原告造成损失为由，提起诉讼要求被告履行支付赔偿金等款项的义务。涉案的金额 23.14亿元。 ...

Core Viewpoint - Zhongwei New Materials Co., Ltd. has signed a strategic cooperation framework agreement with Xinwanda Power Technology Co., Ltd. to collaborate on the research and industrialization of key materials for solid-state batteries, focusing on applications in electric vehicles and energy storage systems [1][4]. Group 1: Cooperation Focus - The cooperation will concentrate on three main areas: 1. Joint development of new precursor materials for solid-state batteries, which must exhibit high energy density, safety, and long cycle life [3][6]. 2. Xinwanda will lead the development of cathode materials and complete cells based on the precursors provided by Zhongwei, facilitating practical applications in energy storage [3][6]. 3. Both companies will explore mass production pathways to scale up solid-state battery materials [3][6]. Group 2: Company Background - Zhongwei is a leading global supplier of ternary precursors, with significant expertise in high-nickel and single-crystal precursor technologies [3][6]. - Xinwanda has been investing in semi-solid and all-solid-state battery research and has established a product line specifically for energy storage batteries [3][6]. Group 3: Strategic Importance - The collaboration aims to bridge the "materials - cells - applications" chain, particularly addressing the stringent safety and cycle life requirements for large-scale energy storage projects, thereby accelerating the transition of solid-state battery technology from laboratory to engineering [3][6]. - Solid-state batteries are expected to offer advantages in energy storage, including reduced risk of thermal runaway, extended lifespan, and simplified thermal management systems [3][6]. Group 4: Future Plans - A joint technical team will be established to advance material validation and pilot testing, as well as to assess the feasibility of building complementary production capacity [4][7]. - This signing marks a significant step for both companies in the next-generation battery technology landscape and provides a new collaborative model for exploring high safety and long-duration energy storage technologies in the domestic energy storage industry [4][7].