HK Stock Market Move | CALB(03931) rose more than 8% in the final trading session, with the annual cumulative volume of power batteries increasing by more than 40%, and the demand for lithium batteries maintaining high expectations.

CALB (03931) rose more than 8% at the close, up 7.57% as of the time of writing, at HK$13.92, with a turnover of HK$102.774 million. On the news front, data from the China Automotive Power Battery Industry Innovation Alliance shows that by 2024, the cumulative installed capacity of power batteries will reach 548.4GWh, a year-on-year increase of 41.5%. The China Automotive Power Battery Industry Innovation Alliance stated that the structure of power battery materials will change in 2024, with the proportion of lithium iron phosphate batteries increasing rapidly, with an accumulated installed capacity of 409.0GWh, accounting for over 70% of the market share. In terms of the ranking of power battery companies by installed capacity, Contemporary Amperex Technology ranks first with a market share of 45.08%; BYD Company Limited ranks second with a market share of 24.74%. CALB, Gotion High-tech, and Eve Energy Co., Ltd. rank third to fifth respectively. Dongguan Securities pointed out that the demand for energy storage is expected to maintain high growth, with the dual drive of power and energy storage, and the demand for lithium batteries remains high. January saw a slight decrease in lithium battery production in the off-season compared to the previous month, but a high year-on-year growth, especially in the production increase of iron phosphate batteries, with leading battery manufacturers maintaining their strength. Recently, the overall price of the industry chain has remained stable. In the medium term, with the slowdown in capacity expansion and the continuous clearance of backward production capacity, the industry supply and demand structure is gradually improving, the industry chain inventory is basically bottoming out, and profits are expected to recover. The industrialization process of solid-state batteries is accelerating, driving the demand for material system iteration and upgrading.