CATL (SHE: 300750) has recently received approval from the Chinese mainland securities regulator for its planned listing on the main board of the Hong Kong Stock Exchange. This move marks a significant milestone for the company and is set to be one of the biggest listings in the city in recent years.
The approval came in the form of a filing notice from the China Securities Regulatory Commission (CSRC) on March 25, allowing CATL to proceed with its listing on the Hong Kong Stock Exchange. The company plans to issue no more than 220,169,700 overseas-listed ordinary shares as part of the listing.
According to an announcement made by CATL on the Shenzhen Stock Exchange, the company must complete the overseas issuance and listing within 12 months from the date of the filing notice. Failure to do so would require an update to the filing materials if CATL intends to continue with the listing after the deadline.
It is important to note that CATL’s secondary listing in Hong Kong still needs approval from the city’s securities regulators. The company, known for its dominance in the power battery market, was listed on the Shenzhen Stock Exchange in 2018 and currently boasts a market cap of RMB 1.14 trillion yuan ($1,570 billion).
CATL’s decision to pursue a secondary listing in Hong Kong was announced in December 2024 as part of its efforts to strengthen its global strategic presence and create an international capital operation platform. The listing is expected to raise at least $5 billion, making it the largest in Hong Kong since Kuaishou Technology’s IPO in 2021.
In terms of market performance, CATL has maintained its position as the world’s leading player in the EV battery market for eight consecutive years. Additionally, the company has secured the largest market share in the energy storage battery market for three consecutive years.
In 2024, CATL recorded an EV battery installation volume of 339.3 GWh, representing a 31.7 percent increase from the previous year. The company’s revenue for the same year reached RMB 362.01 billion yuan, with a net income of RMB 50.75 billion yuan, marking a 15.01 percent year-on-year increase.
CATL’s upcoming listing in Hong Kong is expected to further solidify its position as a key player in the global battery market and drive its growth trajectory in the coming years. Stay tuned for more updates on CATL’s listing and its impact on the industry.
