Update: Updated CATL's performance at the close of the Hong Kong stock market.
- Listing in Hong Kong means wider integration of CATL into the global capital markets, its chairman said.
- CATL has a total market capitalization of HK$1.33 trillion.
CATL (HKG: 3750) made its Hong Kong stock market debut today as it begins to utilize international capital markets to support its overseas expansion.
By the close of trading, the Chinese power battery giant soared 16.43 percent to HK$306.2 per share on the Hong Kong stock market, with a total market capitalization of HK$1.38 trillion.
CATL launched its share offering for listing in Hong Kong on May 12, which lasted until May 15. Its offer price was set at HK$263, at the upper end of the range, to raise about $4.6 billion.
"This listing signifies our deeper integration into the global capital markets and marks a new milestone in our mission to drive the global zero-carbon economy," said Robin Zeng, CATL's chairman and CEO, in a speech today celebrating the company's listing in Hong Kong.
CATL is not just a battery component manufacturer, but also a system solution provider, and is committed to becoming a zero-carbon technology company, he said.
This year, all of CATL's battery plants will be carbon neutral, Zeng said, adding that the company will provide technologies and solutions to drive the transition of traditional industries such as steel, cement and chemicals to new energy sources.
CATL was listed on the Shenzhen Stock Exchange on June 11, 2018 and was up about 70 percent in 2024.
The company submitted an application to list in Hong Kong in February, saying the move was to further advance the company's globalization strategy and build an international capital operation platform.
CATL is the world's largest maker of electric vehicle (EV) batteries, with a global share of 38.3 percent in the January-March period, according to South Korean market researcher SNE Research.
As of the end of 2024, CATL has 13 battery production bases, six R&D centers, and service outlets in 64 countries and regions around the world.
It installed 246.01 GWh of EV batteries for the full year 2024, up 47.21 percent from 2023.
CATL's net income in 2024 was RMB 50.75 billion ($7 billion), up 15.01 percent year-on-year.
Its revenue in 2024 was RMB 362.01 billion, down 9.70 percent year-on-year.
($1 = RMB 7.2184)
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