IPO Details: CNGR has announced its Hong Kong IPO, offering over 104 million H-shares, with 10% allocated for public offering and 90% for international investors, aiming to raise approximately HKD3.94 billion.
Pricing and Timeline: The share price is set between HKD34 and HKD37.8, with the IPO period starting today and ending next Wednesday, while pricing and listing are scheduled for November 13 and 17, respectively.
Cornerstone Investors: The IPO has attracted nine cornerstone investors, including notable companies like ITG and CALB, who will collectively subscribe for shares worth nearly HKD1.659 billion, representing about 44.33% of the offered shares.
Market Context: The Hong Kong stock market has shown positive performance, with HKEX reporting a 56% year-on-year increase in net profit for the third quarter, indicating a favorable environment for new listings.
Wall Street analysts forecast 03931 stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for 03931 is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
0 Analyst Rating
Wall Street analysts forecast 03931 stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for 03931 is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
0 Buy
0 Hold
0 Sell
Current: 27.680
Low
Averages
High
Current: 27.680
Low
Averages
High
Citi Research
Strong Buy
maintain
2025-10-21
Reason
Citi Research
Price Target
AI Analysis
2025-10-21
maintain
Strong Buy
Reason
The analyst rating for CATL (300750.SZ) is positive due to several key factors highlighted in the report by Citi Research. Firstly, CATL's net profit for the first three quarters of 2025 reached RMB49 billion, reflecting a significant year-over-year increase of 36.2%, which indicates strong financial performance. Additionally, the core net profit also showed a robust growth of 35.6% year-over-year, aligning with the broker's expectations.
Furthermore, CATL's 3Q25 net profit of RMB18.5 billion, which was up 41.2% year-over-year and 12.3% quarter-over-quarter, demonstrates consistent growth. The report notes that both net profit and battery sales volume for this quarter met the broker's expectations, reinforcing confidence in the company's performance.
Citi Research also pointed out that the supply and demand dynamics in the battery industrial chain are rebalancing, with a booming demand for energy storage systems indicating the start of a new growth cycle. This positive outlook on the industry further supports CATL's position as a top pick for investors, alongside other companies in the sector.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
