HK Stock Market Move | Contemporary Amperex Technology (03750) fell nearly 9% at the close of trading, mainstream new energy vehicle companies adjust power battery procurement strategies, introduce second-tier battery manufacturers.

Contemporary Amperex Technology (03750) fell by nearly 9% in the final trading session, and as of the time of writing, it has fallen by 7.92% to 587 Hong Kong dollars, with a turnover of 3.036 billion Hong Kong dollars. On the news front, it is reported that in recent times, several new energy vehicle manufacturers have adjusted their power battery procurement strategies, gradually introducing second-tier battery manufacturers as second and third suppliers. The new vehicle declaration information from the Ministry of Industry and Information Technology shows that the WJ M6 pure electric version has adopted Gotion High-tech battery cells, and Hongmeng Zhixing has achieved mass production of vehicles equipped with second-tier battery companies; the new version of Ideal L8 has switched to Sunwoda Electronic battery cells, and brands such as Xiaomi, Leapmotor, and GAC Aion are also expanding their diversified battery supply lists. Zhang Xiang, Secretary-General of the International Association of Smart Carrying Technology, stated that at present, second-tier companies represented by Gotion High-tech and Eve Energy Co., Ltd. are accelerating their breakthroughs and reshaping the industry's competitive landscape. "From a long-term perspective, the concentration effect of the battery industry is slowing down, making it difficult for the industry to return to a monopolistic, one-way dominant pattern."