BUZZ-China's CATL slips on slowing Q4 net profit growth

Reuters03-17

** Shares of Contemporary Amperex Technology Co Ltd $(CATL.UK)$ 300750.SZ slip 1.7% to 257.6 yuan, on course for the biggest one-day pct decline March 4

** Shenzhen-listed power battery systems developer and maker reported a 15% growth in 2024 net profit, the slowest pace in six years, as a prolonged price war in China's electric vehicle market put pressure on the Chinese EV battery giant

** Q4 net profit was up 13.6% y/y, slowing from 26% growth in Q3, while revenue shrank by 3.1% y/y narrowing from a 12.5% slide in the previous quarter

** Nomura maintains "buy" rating on the stock and lifts TP to 315 yuan from 300 yuan, saying 4Q earnings are a "slight miss" but leadership unchanged with resilient growth

** The blue-chip CSI 300 Index .CSI300 gains 0.1%, the Shanghai Composite Index .SSEC adds 0.5%

** Stock down 3% YTD

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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