Hong Kong Stocks Movement | Lithium Battery Concept Stocks Rise Broadly in Morning Session, CALB (03931) Up Over 5% as MIIT Leads Warning on Industry's Irrational Competition

Stock News01-09

Lithium battery concept stocks experienced broad gains in the morning trading session. At the time of writing, CALB (03931) rose 5.13% to HK$26.62; TIANNENG POWER (00819) increased 4.02% to HK$7.51; GANFENGLITHIUM (01772) climbed 3.49% to HK$57.9; and TIANQI LITHIUM (09696) advanced 1.21% to HK$54.35.

The movement follows news that the Ministry of Industry and Information Technology (MIIT) posted on its official account stating that MIIT, along with the National Development and Reform Commission, the State Administration for Market Regulation, and the National Energy Administration, jointly held a symposium on the power and energy storage battery industry on January 7 to study and deploy measures for further standardizing competition order within the sector.

According to information obtained from informed sources, the meeting convened 16 companies, comprising 13 power battery and energy storage battery manufacturers, along with 3 system integrators.

Furthermore, industry media reported that the China Automotive Power Battery Innovation Alliance and the China Industrial Association of Power Sources participated in the entire symposium, advocating for industry self-discipline.

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