Shanghai (ZXZC)- Sunwoda Electronic Co., Ltd. (“Sunwoda”) saw its revenue reach 14.866 billion yuan ($2.046 billion) in the third quarter of 2022 (Q3 2022 or reporting period), leaping 50.14% from the previous year, the Chinese battery maker announced last Friday.

In the reporting period, Sunwoda earned roughly 315.517 million yuan ($43.417 million) in the net profit attributable to shareholders, representing a precipitous hike of 504.79% year-over-year.

Photo credit: Sunwoda

Excluding the impact of certain non-recurring gains and losses, the company's Q3 net profit belonging to shareholders only climbed 3.51% over a year earlier to 236.633 million yuan ($32.562 million).

For the first three months of 2022 (Q1-Q3 2022), Sunwoda recorded 36.584 billion yuan ($5.034 billion, +43% YoY) worth of revenue, resulting in a total net profit of 687.546 million yuan ($94.611 million, +2.72% YoY) attributable to shareholders.

Sunwoda said the jump in its Q1-Q3 revenue should be mainly credited to the order volume increased during the corresponding period.

For the first nine months of the year, the company's net cash flows from operating activities amounted to 646.99 million yuan ($89.03 million), sliding 36.26% mainly due to the increase in the cash paid to and for staff.

In the Jan.-Sept. period this year, Sunwoda recorded a power battery installed capacity of 4.84GWh in China, ranking fifth among battery suppliers in the county with a market share of 2.5%, according to data by the China Automotive Power Battery Industry Innovation Alliance (CAPBIIA).