HK Stock Market Move | CALB(03931) rose by more than 3%. The net profit attributable to the parent for the first three quarters increased nearly 2.8 times year-on-year. The company will benefit significantly from the global growth in energy storage demand.

CALB (03931) rose more than 3%, as of the time of publication, it rose 3.31% to HK$35, with a turnover of HK$1.24 billion. On the news front, recently, CALB released its performance for the first three quarters of 2025, with total operating revenue of RMB 28.538 billion, a year-on-year increase of 49.92%; net profit attributable to the owners of the parent company was RMB 685 million, a year-on-year increase of 279.65%. Huaan stated that considering the rising global energy storage demand and the potential increase in energy storage cell prices, it is expected that CALB (03931) will achieve net profit attributable to the parent company of RMB 1.37/3.04/4.79 billion in 2025/2026/2027, respectively. Huaan pointed out that the current Chinese energy storage market is gradually shifting from mandatory reserves to a value-driven market. It is expected that China's energy storage will add 150-200GWh next year; the profit model of the energy storage market in Europe is gradually improving, with an expected 50% growth rate over the next three years in Europe; the development of AI in the United States is bringing a large amount of new electricity load demand, and the integration of solar and energy storage will become an important solution. In the first half of the year, the company ranked fourth globally in energy storage cell shipments, successfully supplying the largest power station projects in Latin America and South Africa, and entering the supplier list of many leading developers and grid companies. A new breakthrough has been made in the overseas power station business layout. The company will fully benefit from the growth in global energy storage demand.