CALB Surges Over 7% Intraday as Automakers Deepen Ties with Second-Tier Battery Suppliers

Deep News09-16

CALB (03931) saw its share price jump more than 7% during intraday trading, with the stock last up 6.39% at HK$17.48, recording a turnover of HK$130 million. This rally comes amid growing market discussion over the accelerating partnerships between automakers and second-tier battery manufacturers.

Recent moves by Li Auto and Xiaomi Auto to strengthen their collaborations with alternative battery suppliers have captured significant investor attention. Notably, Xiaomi's Pengcheng series extended-range SUVs, launched on September 7, excluded CATL batteries across the entire lineup. The 76kWh NCM lithium-ion batteries powering the N70 Max and N90 Max models are supplied by CALB.

In a related development, Xiaomi Auto announced on September 4 a strategic partnership covering its proprietary Longjia batteries with both CALB and Sunwoda. Additionally, Li Auto introduced CALB as its third power battery supplier in September, further cementing the company's position in the supply chain.

For the first half of this year, CALB reported operating revenue of RMB 27.084 billion, representing a solid 65% year-on-year increase. Net profit attributable to shareholders surged 100.7% to RMB 935 million. The power battery segment contributed RMB 16.506 billion in revenue during the period, up 54.8% from the previous year, reflecting the company's improving customer mix and operational momentum.

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