Citigroup: Contemporary Amperex Technology (03750) signs sodium energy storage cooperation agreement with Beijing HyperStrong Technology, maintaining "buy" rating.

Citigroup released a research report stating that Contemporary Amperex Technology (03750, 300750.SZ) has signed a 60GWh sodium-ion energy storage battery supply agreement with Beijing HyperStrong Technology, maintaining a "buy" rating. According to overseas reports, Contemporary Amperex Technology has signed a three-year, 60GWh sodium-ion battery supply agreement with Beijing HyperStrong Technology. Contemporary Amperex Technology stated that this agreement means the company has successfully solved various challenges in sodium-ion battery production and has the capacity for mass production. Contemporary Amperex Technology launched the Naxtra sodium-ion battery on its Tech Day in April 2025, and stated at its Tech Day in April 2026 that it expects to achieve mass production in the fourth quarter of 2026. The bank expects Contemporary Amperex Technology to benefit from its strong research and development capabilities and battery technology advantages. The bank points out that it still sees the price of lithium favorably in the short term, mainly supported by supply disruptions and strong demand. Preferred stocks include Ganfeng Lithium Group (01772, 002460.SZ), Tianqi Lithium Corporation (09696, 002466.SZ), Hunan Yuneng New Energy Battery Material (301358.SZ), and Contemporary Amperex Technology A shares.