CATL, the Chinese power battery giant, has officially made its debut on the Hong Kong stock market, marking a significant step towards utilizing international capital markets to support its overseas expansion. The company’s chairman and CEO, Robin Zeng, emphasized the importance of this listing, stating that it signifies a deeper integration into the global capital markets and represents a new milestone in their mission to drive the global zero-carbon economy.
The listing in Hong Kong is a strategic move for CATL, as it not only enhances the company’s global presence but also provides access to a broader investor base. The company’s total market capitalization in Hong Kong currently stands at HK$1.35 trillion, reflecting a strong investor interest in the stock.
CATL is not just a battery component manufacturer; it is also a system solution provider committed to becoming a zero-carbon technology company. Zeng highlighted the company’s focus on sustainability, announcing that all of CATL’s battery plants will be carbon neutral by the end of this year. Additionally, CATL aims to provide technologies and solutions to drive the transition of traditional industries such as steel, cement, and chemicals towards new energy sources.
As the world’s largest maker of electric vehicle (EV) batteries, CATL holds a global market share of 38.3 percent in the January-March period, according to SNE Research. The company operates 13 battery production bases, six R&D centers, and service outlets in 64 countries and regions worldwide. In 2024, CATL installed 246.01 GWh of EV batteries, marking a substantial increase from the previous year.
In terms of financial performance, CATL reported a net income of RMB 50.75 billion ($7 billion) in 2024, representing a 15.01 percent year-on-year growth. However, the company’s revenue in 2024 decreased by 9.70 percent year-on-year, amounting to RMB 362.01 billion.
CATL’s decision to list in Hong Kong comes after the company submitted an application in February, as part of its globalization strategy and efforts to establish an international capital operation platform. The successful listing in Hong Kong underscores CATL’s position as a key player in the global electric vehicle market and sets the stage for further growth and expansion in the future.
