Posted on 21 May 2025
China’s giant battery manufacturer CATL saw its shares surge 16.4% in its Hong Kong debut on Tuesday, raising roughly HKD 35.66 billion ($4.56 billion), Kallanish reports.
Shares opened at HKD 296 ($37.83), which was 12.55% higher than the offering price of HKD 263. Investor confidence continued driving the shares to close at HKD 306.20.
At the launch ceremony at the Hong Kong Stock Exchange, founder and ceo Robin Zeng noted CATL is “not just a battery parts manufacturer,” and is committed to becoming “the pioneer” in the global zero-carbon economy.
The company plans to invest 90% of the money raised in this global offering to advance Phases I and II of its battery project in Hungary to meet growing European demand from energy storage and electric vehicles. CATL said in its prospectus that the EV penetration rate in the EU was 17.2% last year, but it expects the figure to rise to 60.2% in 2030.
Behind its projections are the transformation of the transportation sector globally and emerging demand from drones and electric vessels, the company says.
It believes the global annual electricity consumption will increase by 75%, demanding investments in renewable energy of over $10 trillion worldwide. CATL reinforces it is all in for the zero-carbon grid technology.
The company posted a 32.8% increase in its Q1 net profit at CNY 14.86 billion.
Source:Kallanish
