Xiaomi invests RMB 1.7 billion for 5.34% of Sunwoda EVB, and Sunwoda loses control

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Sunwoda disclosed on the evening of 29 October that Xiaomi's Hanxing Venture will put RMB 1.7 billion (about US$253 million) into Sunwoda EVB for 5.34%, making it the third-largest holder; shareholder approval is pending. Sunwoda drops from 24.06% to 22.78%, stays largest but loses control and will deconsolidate, adding RMB 3.2-4.5 billion to 2026 profit. Li Auto is diluted to 8.32%.