Xinwangda's R&D investment remains high

In 2023, Xinwangda's R&D expenditure remained at 2.7 billion yuan, accounting for 5.66% of its operating income. This investment is in a leading position among second-tier battery companies, surpassing companies such as CATL, Fudi Battery, Yiwei, Guoxuan, Zhongxinhang and Ruipu. The company's R&D institutions have set up multiple R&D projects, including fast charging, large cylinders, high-capacity long-cycle energy storage, PHEV, lithium iron manganese phosphate, solid-state batteries and sodium-ion batteries, which are current hot areas.