CATL 3750

[winston]

vested

China's CATL beats estimates as battery profit growth quickens

Fourth-quarter profit rose 57.1 percent from a year earlier to 23.17 billion yuan (HK$26.18 billion), compared with a 41.2 percent rise in the third quarter,

Revenue was up 36.6 percent to 140.6 billion yuan versus a 12.9 percent increase in the third quarter.

CATL - which supplies the biggest EV brands including Tesla, Xiaomi and Nio - has dialled up investments in battery swapping stations and mounted advertising campaigns at railway stations and airports.

Source: The Standard

https://www.thestandard.com.hk/innovati ... le/326240/

[winston]

not vested

Solid profitability likely to sustain in FY26F

CATL delivered better-than-expected 4Q25 results.

We believe raw material prices should have limited impact on CATL given the company’s experience in last lithium carbonate price surge cycle.

We expect its sales volume of power battery and ESS battery to reach 646 GWh and 176 GWh, respectively, in FY26F, with capacity expansion.

Reiterate Add, with a higher TP of HK$638.

Source: CGS

https://rfs.cgsi.com/api/download?file= ... DC360727C3

[winston]

not vested

CATL: FY25 net profits up by 42% y/y, 4Q25 battery shipment beats expectations

Long-term operational stability underpinned by global leadership and a resilient supply chain

Strong growth in battery shipment volumes, driven by demand from both EV and ESS sectors

Overseas expansion to support profit growth and drive higher margins

Maintain BUY with higher TPs of RMB500 / HKD675, based on higher sales volume assumptions

Source: DBS

https://www.dbs.com/insightsdirect/comp ... ecid=30022

[winston]

not vested

CATL poised to boost lead over rivals in global battery race

CATL reported its revenue rose 17% last year to 423.7 billion yuan

The leading electric vehicle battery maker’s profit for the year surged 42% to 72.2 billion yuan

Source: Bamboo Works

https://thebambooworks.com/catl-poised- ... tery-race/

[winston]

The $5 Billion Share Sale

CATL is considering a share sale to raise up to $5 billion in Hong Kong following a stock rally.

The company has held preliminary talks with banks about the placement, according to people familiar with the matter.

CATL's Hong Kong-listed shares had surged about 35% since the start of the Iran war, helped by better-than-expected Q4 results.

Short Sellers Were Already Positioning

About 29.3 million of CATL's Hong Kong-listed shares had been sold short, near the highest level since its Hong Kong listing last May Bloomberg — suggesting some investors had already been betting against the stock ahead of the earnings release and any capital raise announcement.

Bottom line: The drop today is primarily a reaction to the potential $5B share placement — not a fundamental deterioration in the business. The stock had run up sharply, and the dilution risk from new shares is causing profit-taking and a pullback.

Source: Bloomberg

[winston]

not vested

<Research>CLSA: CATL's Potential USD5B H-Shr Placement Entails Positives; High-Conviction Outperform Reiterated

CLSA, in its research report, cited a Bloomberg report and wrote that CATL (03750.HK) is considering an H-share placement of up to USD5 billion.

The broker viewed that if the fundraising materializes, the positives are likely to outweigh the negatives.

The potential USD5 billion fundraising would represent only about 1.2% dilution to existing issued shares, implying limited impact.

On the flip side, CATL H-share liquidity would increase by approximately 33%, reflecting a radical improvement and providing investors with an opportunity to add to their positions and ride the multi-year ESS story.

Related News - M Stanley: CATL (3750.HK) Acquisition of Zhongheng Electric Stake Expands AI Power Supply Capabilities, Rated Equalweight

Based on the SOTP valuation methodology, CLSA set a TP of RMB505 for CATL's A-shares (300750.SZ) and a TP of HKD710 for its H-shares, reiterating its High-Conviction Outperform rating.

Source: AASTOCKS Financial News

http://www.aastocks.com/en/stocks/news/ ... -news/AAFN