HK Stock Market Move | Contemporary Amperex Technology (03750) falls by over 4% again, will face lifting of restrictions on Thursday of this week, JP Morgan lowers the target price for the company's H shares.

Contemporary Amperex Technology (03750) fell over 4% again, down 3.8% as of the time of writing, to 506 Hong Kong dollars, with a turnover of 942 million Hong Kong dollars. On the news front, about 50% of Contemporary Amperex Technology's H-share IPO cornerstone investors' locked-up shares will be unlocked from November 20, 2025, totaling approximately 77.5 million shares. Morgan Stanley issued a research report stating that they remain bullish on Contemporary Amperex Technology's A-shares and consider it the top choice in China's battery industry chain, with a target price of 480 RMB, representing a 19% upside from the latest closing price. The H-share target price was lowered from 600 Hong Kong dollars to 575 Hong Kong dollars. Even considering the H-shares' approximately 10% valuation premium over A-shares, there is only a 6% upside from the latest closing price, with a "neutral" rating. In addition, Contemporary Amperex Technology announced last night that major shareholder Huang Shilin had inquired about transferring A-share shares. After inquiring with institutional investors, the preliminary transfer price per share was determined to be 376.12 RMB, a discount of up to 21.8% compared to the H-share closing price of 526 Hong Kong dollars and 3.8% compared to the current A-share price. Contemporary Amperex Technology stated that a total of 55 valid bids were received for this inquiry transfer, including fund management companies, qualified foreign institutional investors, insurance companies, securities companies, private fund managers, and other professional institutional investors. The total number of effective subscribed shares by institutional investors participating in this inquiry transfer was 147 million shares, with an effective subscription ratio of 3.2 times.