CATL Receives Approval for Hong Kong Listing
Chinese battery giant CATL has officially received approval from the China Securities Regulatory Commission (CSRC) for its planned listing on the Hong Kong stock market. The company announced on March 25 that it intends to issue no more than 220,169,700 offshore-listed ordinary shares, with sources indicating that the listing could raise at least $5 billion.
CATL first disclosed its plans to issue H-shares and list on The Stock Exchange of Hong Kong on February 11, and has since submitted a formal application. The proceeds from the listing will primarily be used to support overseas capacity expansion, international business development, and operational funding for its global strategy. Additionally, funds will be allocated to the construction of a €7.3 billion ($7.53 billion) battery plant in Hungary.
Financial data from CATL shows that in 2024, the company recorded a total revenue of 362 billion yuan, representing a 9.7% year-on-year decline. However, its net profit attributable to shareholders saw a 15% increase compared to the previous year, reaching 50.7 billion yuan.
The approval from CSRC marks a significant milestone for CATL as it continues to solidify its position as a major player in the global battery industry. The company’s successful listing on the Hong Kong stock market will provide it with the necessary resources to further expand its international presence and drive innovation in the electric vehicle market.
With its strong financial performance and ambitious growth plans, CATL is poised to capitalize on the increasing demand for electric vehicles and renewable energy solutions. Investors can look forward to the company’s future developments as it continues to lead the way in sustainable energy technologies.
