HK Stock Market Move | CALB (03931) fell more than 3% during trading. Contemporary Amperex Technology sues CALB for patent infringement, claiming 91 million yuan in damages.

CALB (03931) fell more than 3% intraday, closing down 2.88% at HK$12.16, with a turnover of HK$304.92 million. On the news front, on January 3, CALB released a lawsuit announcement stating that Contemporary Amperex Technology has filed an intellectual property infringement claim against CALB for "secondary battery top cover components and secondary batteries" and related patented inventions. Contemporary Amperex Technology has requested CALB to compensate for economic losses totaling 90 million yuan and reasonable expenses of 1 million yuan for stopping the infringement. In addition, CALB announced that it plans to use the unused proceeds from its H shares for permanent supplement to working capital. As of October 31, 2024, a total of 9.45 billion Hong Kong dollars has been used, mainly for the construction of production facilities and technological research and development for multiple projects. Specifically, 7.45 billion Hong Kong dollars were used for production line construction, 1 billion Hong Kong dollars for technological research and operational funds. The remaining 530 million Hong Kong dollars have not been utilized.