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03750
CATL
HKD
471.400-0.800
(-0.17%)
1D
AI Analysis for 03750
AI Analysis
High
476.200
Open
472.200
VWAP
472.00
Vol
3.00M
Mkt Cap
75.00B
Low
466.000
Amount
1.00B
EV/EBITDA(TTM)
17.00
Total Shares
156.00M
EV
2.00T
EV/OCF(TTM)
14.00
P/S(TTM)
4.00
Contemporary Amperex Technology Co Ltd is a China-based company mainly engaged in the research and development, production, and sales of power batteries and energy storage batteries. The Company's products are applied in various fields such as passenger cars, commercial vehicles, pre meter energy storage, and post meter energy storage, as well as in application scenarios such as engineering machinery, ships, and aircraft. The power battery products mainly include battery cells, modules or boxes, and battery packs. The energy storage battery products mainly include battery cells, battery cabinets, energy storage containers, and alternating current side systems. The Company also engages in battery materials and recycling, as well as other businesses. The Company operates its businesses in both domestic and international markets.
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News
6.0
01-23aastocksM Stanley Assigns Overweight Rating to CATL (300750.SZ) as Sodium Era Approaches
Strategic Shift to Sodium-Ion Batteries: CATL is transitioning from lithium batteries to sodium-ion batteries, which are seen as more cost-effective, according to a Morgan Stanley report.
Market Penetration and Applications: Sodium-ion batteries are expected to initially penetrate the light truck and passenger vehicle markets, particularly in small and micro segments, and have potential in energy storage systems as a replacement for lithium iron phosphate batteries.
Positive Outlook from Morgan Stanley: The broker rated CATL's A-shares as Overweight with a target price of RMB490, highlighting the economic viability of sodium-ion technology.
Short Selling Activity: CATL has experienced significant short selling activity, with a ratio of 30.080% and a total of $759.67 million in short sales.
5.0
01-22aastocksCATL Introduces Mass-Produced Sodium-Ion Battery for Light Commercial Use
Company Performance: CATL's stock has decreased by 2.84%, with significant short selling activity amounting to $759.67 million and a short selling ratio of 30.08%.
Product Launch: The company introduced the Tianxing II light commercial industry all-scenario customized series solution in Guangzhou, featuring the first mass-produced sodium-ion battery for light commercial vehicles.
6.5
01-22aastocksJPM Optimistic About Short-term Lithium Prices but Wary of Mid-term Outlook
JP Morgan's Field Trip Insights: JP Morgan visited lithium refineries in Yichun, noting uncertainties around the Jianxiawo lithium mine and the impact on lithium prices, which are expected to remain high until the mine restarts.
Cost of Lithium Carbonate: The cost of lithium carbonate from integrated lepidolite mines has decreased to RMB60,000 per ton, with expectations for further cost reductions in the future.
Short-Term Price Outlook: Following the trip, JP Morgan is optimistic about short-term lithium prices but cautious about mid-term trends, anticipating that stock prices will align with rising lithium carbonate prices.
Increased Supply and Recycling: Current high prices are expected to stimulate more supply, with a significant increase in recycling volume projected by 2028.
5.0
01-21aastocksGalbot Introduces the S1: A Robust Industrial Robot with Embodied Intelligence
Introduction of Galbot S1: Galbot has launched the Galbot S1, an advanced heavy-duty robot designed for full autonomy and sustainable operation, with a dual-arm load capacity of 50 kg.
Industry Application: The Galbot S1 is already in use at major manufacturing facilities, including CATL, marking a significant step in automation within the industry.
2.0
01-21aastocksS&P Global Market Intelligence Reveals Recent Top 10 Most Shorted Stocks in Hong Kong (Table)
Top Shorted Stocks: S&P Global Market Intelligence identified the ten most shorted stocks in Hong Kong, with metrics based on the short selling ratio, which measures shares lent out relative to total issued shares.
Leading Stocks: COSCO SHIP HOLD topped the list with a short selling ratio of 40.396%, followed by DONGFANG ELEC and PHARMARON with ratios of 19.528% and 34.783%, respectively.
Stock Performance: The report includes recent price changes and short selling amounts, indicating varying performance among the listed stocks over the past week.
Market Insights: The data reflects investor sentiment and market dynamics, with significant short selling activity observed in companies like PING AN and ZTE, highlighting potential concerns or speculation in the market.
Money Flow
Over the past 66 trading days, overall net money flow is 395.00M, with retail investors contributing 66.00M and major investors adding 268.00M.
Net Buy $ Volume
Net Sell $ Volume
CLSA
CLSA
maintain
RMB685 / $500
2026-01-19
New
Reason
The analyst rating for CATL (03750.HK) is "High Conviction Outperform," as reiterated by CLSA. The reasons for this rating include:
1. Market Concerns Reflected in Valuation: CATL's current estimated PE ratios of 17x for A-shares and 22x for H-shares already account for most of the market's concerns regarding growth prospects, such as the slowdown in China's EV sales, rising lithium prices, and reduced export VAT rebates on batteries.
2. Strong Earnings Growth Forecast: CLSA forecasts a 31% compound annual growth rate (CAGR) in earnings per share (EPS) for 2025-2027, suggesting that the company's growth potential remains strong despite current headwinds.
3. Valuation Re-rating Potential: Historically, CATL's A-shares had an average PE ratio of 19x during a downcycle in the battery industry. With a new upcycle anticipated due to structural growth in energy storage batteries, CLSA believes CATL's valuation should be re-rated to exceed this historical average.
4. Attractive Risk-Reward Profile: Given the expected earnings growth and the current valuation, CLSA considers the risk-reward profile for CATL to be attractive, supporting their positive outlook on the stock.
Overall, these factors contribute to CLSA's positive rating and target prices of RMB685 for A-shares and $500 for H-shares.
CLSA
Price Target
RMB685 / $500
2026-01-19
maintain
New
The analyst rating for CATL (03750.HK) is "High Conviction Outperform," as reiterated by CLSA. The reasons for this rating include:
1. Market Concerns Reflected in Valuation: CATL's current estimated PE ratios of 17x for A-shares and 22x for H-shares already account for most of the market's concerns regarding growth prospects, such as the slowdown in China's EV sales, rising lithium prices, and reduced export VAT rebates on batteries.
2. Strong Earnings Growth Forecast: CLSA forecasts a 31% compound annual growth rate (CAGR) in earnings per share (EPS) for 2025-2027, suggesting that the company's growth potential remains strong despite current headwinds.
3. Valuation Re-rating Potential: Historically, CATL's A-shares had an average PE ratio of 19x during a downcycle in the battery industry. With a new upcycle anticipated due to structural growth in energy storage batteries, CLSA believes CATL's valuation should be re-rated to exceed this historical average.
4. Attractive Risk-Reward Profile: Given the expected earnings growth and the current valuation, CLSA considers the risk-reward profile for CATL to be attractive, supporting their positive outlook on the stock.
Overall, these factors contribute to CLSA's positive rating and target prices of RMB685 for A-shares and $500 for H-shares.
Citi
maintain
2026-01-06
Reason
Citi's analyst rating is based on the belief that the battery price uptrend will continue this year, despite relatively weak demand in China's electric vehicle industry. The firm highlights significantly raised expectations for energy storage systems, which have positively influenced the stock performance of related shares. Citi specifically identifies CATL as a top pick, citing its strong risk-reward ratio following price increases in various segments of the industry chain and the lithium sector. The outlook is expected to improve after the Lunar New Year, although there is caution regarding short-term rises in lithium prices.
Citi
Price Target
2026-01-06
maintain
Citi's analyst rating is based on the belief that the battery price uptrend will continue this year, despite relatively weak demand in China's electric vehicle industry. The firm highlights significantly raised expectations for energy storage systems, which have positively influenced the stock performance of related shares. Citi specifically identifies CATL as a top pick, citing its strong risk-reward ratio following price increases in various segments of the industry chain and the lithium sector. The outlook is expected to improve after the Lunar New Year, although there is caution regarding short-term rises in lithium prices.
JPMorgan
JPMorgan
Overweight
maintain
RMB180
2026-01-06
Reason
The analyst rating for SIEYUAN ELEC and CATL is based on their recent collaboration on energy storage, which is expected to significantly expand SIEYUAN ELEC's energy storage system business. JPMorgan believes that if the collaboration's output is fully realized, it could generate approximately RMB20 billion in annual revenue. This positive outlook has led JPMorgan to set a target price of RMB180 for SIEYUAN ELEC and target prices of $650/RMB520 for CATL's H-/A-shares, all rated at Overweight.
JPMorgan
Overweight
Price Target
RMB180
2026-01-06
maintain
The analyst rating for SIEYUAN ELEC and CATL is based on their recent collaboration on energy storage, which is expected to significantly expand SIEYUAN ELEC's energy storage system business. JPMorgan believes that if the collaboration's output is fully realized, it could generate approximately RMB20 billion in annual revenue. This positive outlook has led JPMorgan to set a target price of RMB180 for SIEYUAN ELEC and target prices of $650/RMB520 for CATL's H-/A-shares, all rated at Overweight.
Morgan Stanley
Morgan Stanley
maintain
RMB490
2025-12-31
Reason
The analyst rating from Morgan Stanley is based on the expectation that the continuation of electric passenger vehicle (PV) subsidies in China will support high single-digit growth for the electric vehicle battery industry in 2026. Additionally, the anticipated strong performance of electric trucks and energy storage systems is expected to enhance industry profitability. Morgan Stanley believes that if strong demand leads to rising battery material prices, CATL will be able to manage cost pressures through pricing strategies. Consequently, they have rated CATL's A-shares as their industry top pick with an Overweight rating and a target price of RMB490.
Morgan Stanley
Price Target
RMB490
2025-12-31
maintain
The analyst rating from Morgan Stanley is based on the expectation that the continuation of electric passenger vehicle (PV) subsidies in China will support high single-digit growth for the electric vehicle battery industry in 2026. Additionally, the anticipated strong performance of electric trucks and energy storage systems is expected to enhance industry profitability. Morgan Stanley believes that if strong demand leads to rising battery material prices, CATL will be able to manage cost pressures through pricing strategies. Consequently, they have rated CATL's A-shares as their industry top pick with an Overweight rating and a target price of RMB490.
CICC
Outperform
initiated
$580
2025-12-30
Reason
The analyst rating from Citi's research report is influenced by several factors. The report indicates that the planned output of the top five battery manufacturers in Mainland China is expected to shrink by 7% month-over-month in January 2026, with CATL potentially facing a decline of 10%. This decline is attributed not to a decrease in demand, but rather to negotiations between leading battery companies and upstream suppliers. Additionally, some major cathode material manufacturers are planning production halts for maintenance due to rising raw material prices and slim processing fee income, which is linked to the increase in lithium carbonate futures prices.
Citi maintains a defensive view on the battery industry chain due to seasonal factors and weak demand for electric vehicles (EVs), leading to uncertainty in the outlook for planned output. Despite these challenges, CATL is highlighted as the sector's top pick, with target prices set for its H shares and A shares.
CICC
Outperform
Price Target
$580
2025-12-30
initiated
The analyst rating from Citi's research report is influenced by several factors. The report indicates that the planned output of the top five battery manufacturers in Mainland China is expected to shrink by 7% month-over-month in January 2026, with CATL potentially facing a decline of 10%. This decline is attributed not to a decrease in demand, but rather to negotiations between leading battery companies and upstream suppliers. Additionally, some major cathode material manufacturers are planning production halts for maintenance due to rising raw material prices and slim processing fee income, which is linked to the increase in lithium carbonate futures prices.
Citi maintains a defensive view on the battery industry chain due to seasonal factors and weak demand for electric vehicles (EVs), leading to uncertainty in the outlook for planned output. Despite these challenges, CATL is highlighted as the sector's top pick, with target prices set for its H shares and A shares.
CICC
Outperform
initiated
HKD580
2025-12-29
Reason
The analyst rating from Daiwa is influenced by the expectation that while CATL's lithium output may increase, the current lithium futures prices only reflect a short-term improvement in the supply-demand balance. They anticipate an increase in lithium supply in the first half of 2026 and a potential quarter-over-quarter decline in demand in the first quarter of 2026. As a result, Daiwa believes that lithium prices are unlikely to rise further early next year, leading to a cautious outlook on CATL's performance.
CICC
Outperform
Price Target
HKD580
2025-12-29
initiated
The analyst rating from Daiwa is influenced by the expectation that while CATL's lithium output may increase, the current lithium futures prices only reflect a short-term improvement in the supply-demand balance. They anticipate an increase in lithium supply in the first half of 2026 and a potential quarter-over-quarter decline in demand in the first quarter of 2026. As a result, Daiwa believes that lithium prices are unlikely to rise further early next year, leading to a cautious outlook on CATL's performance.
CICC
Outperform
initiated
$580
2025-12-29
Reason
The analyst rating of "Outperform" for CATL (03750.HK) is based on several key factors highlighted in the report by CICC. These include:
1. Market Leadership: CATL is recognized as a global leader in power and energy storage batteries, indicating a strong position in the industry.
2. Growth Potential: The company is actively exploring growth opportunities in overseas markets, which suggests potential for expansion and increased revenue.
3. Rising Demand: There is ongoing growth in lithium battery demand driven by emerging application scenarios, which bodes well for CATL's future performance.
4. Competitive Advantage: CATL possesses a solid competitive advantage characterized by excellent profitability and industry-leading technology, reinforcing its ability to maintain and grow its market share.
5. Valuation: The target price of $580 corresponds to a 26.5x PE ratio for 2026, indicating a favorable valuation relative to expected earnings growth.
Overall, these factors contribute to a positive outlook for CATL, justifying the "Outperform" rating.
CICC
Outperform
Price Target
$580
2025-12-29
initiated
The analyst rating of "Outperform" for CATL (03750.HK) is based on several key factors highlighted in the report by CICC. These include:
1. Market Leadership: CATL is recognized as a global leader in power and energy storage batteries, indicating a strong position in the industry.
2. Growth Potential: The company is actively exploring growth opportunities in overseas markets, which suggests potential for expansion and increased revenue.
3. Rising Demand: There is ongoing growth in lithium battery demand driven by emerging application scenarios, which bodes well for CATL's future performance.
4. Competitive Advantage: CATL possesses a solid competitive advantage characterized by excellent profitability and industry-leading technology, reinforcing its ability to maintain and grow its market share.
5. Valuation: The target price of $580 corresponds to a 26.5x PE ratio for 2026, indicating a favorable valuation relative to expected earnings growth.
Overall, these factors contribute to a positive outlook for CATL, justifying the "Outperform" rating.
CICC
CICC
Outperform
initiated
$580
2025-12-22
Reason
The analyst rating from CICC on CATL (03750.HK) is based on the company's leading position and significant growth potential in expanding overseas markets. The report anticipates strong earnings per share (EPS) growth, projecting EPS of RMB15.27 in 2025 and RMB19.74 in 2026, which translates to a compound annual growth rate (CAGR) of 31.6% from 2024 to 2026. This positive outlook underpins the Outperform rating and the target price of HKD580.
CICC
Outperform
Price Target
$580
2025-12-22
initiated
The analyst rating from CICC on CATL (03750.HK) is based on the company's leading position and significant growth potential in expanding overseas markets. The report anticipates strong earnings per share (EPS) growth, projecting EPS of RMB15.27 in 2025 and RMB19.74 in 2026, which translates to a compound annual growth rate (CAGR) of 31.6% from 2024 to 2026. This positive outlook underpins the Outperform rating and the target price of HKD580.
JPMorgan
JPMorgan
maintain
$650
2025-12-18
Reason
The analyst rating for CATL is based on several key factors. JPMorgan believes that recent industry developments, such as the European Commission's updates on climate neutrality and Ford's entry into the energy storage system business, are favorable for CATL. Although the potential revenue from expanded licensing, royalty, and service contracts may be limited, these developments indicate CATL's potential for business expansion in the US energy storage market. Additionally, CLSA has reiterated a high-conviction outperform rating for CATL, reflecting a positive outlook for the company in the coming year. As a result, JPMorgan has rated CATL's H-shares as Overweight, with a target price of $650, positioning it as a top pick in China's battery supply chain.
JPMorgan
Price Target
$650
2025-12-18
maintain
The analyst rating for CATL is based on several key factors. JPMorgan believes that recent industry developments, such as the European Commission's updates on climate neutrality and Ford's entry into the energy storage system business, are favorable for CATL. Although the potential revenue from expanded licensing, royalty, and service contracts may be limited, these developments indicate CATL's potential for business expansion in the US energy storage market. Additionally, CLSA has reiterated a high-conviction outperform rating for CATL, reflecting a positive outlook for the company in the coming year. As a result, JPMorgan has rated CATL's H-shares as Overweight, with a target price of $650, positioning it as a top pick in China's battery supply chain.
CLSA
High-Conviction Outperform
maintain
$685
2025-12-16
Reason
The analyst rating of High-Conviction Outperform for CATL (03750.HK) by CLSA is based on several key factors:
1. Stabilization of Stock Prices: The report notes that concerns regarding the unlocking of CATL's H-shares have dissipated, leading to a stabilization in the stock prices.
2. Positive Management Guidance: CATL's management has provided guidance indicating that battery shipments in the first quarter of 2026 are expected to remain flat quarter-over-quarter, with a significant anticipated growth of 60% year-over-year.
3. Supportive Policy Environment: The announcement of a new residential energy storage system subsidy plan in Australia is seen as a positive development that could benefit CATL.
Overall, these factors contribute to CLSA's positive outlook for CATL in 2026, justifying their rating and target price.
CLSA
High-Conviction Outperform
Price Target
$685
2025-12-16
maintain
The analyst rating of High-Conviction Outperform for CATL (03750.HK) by CLSA is based on several key factors:
1. Stabilization of Stock Prices: The report notes that concerns regarding the unlocking of CATL's H-shares have dissipated, leading to a stabilization in the stock prices.
2. Positive Management Guidance: CATL's management has provided guidance indicating that battery shipments in the first quarter of 2026 are expected to remain flat quarter-over-quarter, with a significant anticipated growth of 60% year-over-year.
3. Supportive Policy Environment: The announcement of a new residential energy storage system subsidy plan in Australia is seen as a positive development that could benefit CATL.
Overall, these factors contribute to CLSA's positive outlook for CATL in 2026, justifying their rating and target price.
Valuation Metrics
Forward PE
5Y Average PE
31.88
Current PE
23.36
Overvalued PE
55.65
Undervalued PE
8.10
Forward EV/EBITDA
N/A
5Y Average EV/EBITDA
19.08
Current EV/EBITDA
0.00
Overvalued EV/EBITDA
31.72
Undervalued EV/EBITDA
6.44
Forward PS
N/A
5Y Average PS
3.69
Current PS
0.00
Overvalued PS
5.96
Undervalued PS
1.42
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