HK Stock Market Move | Contemporary Amperex Technology (03750) fell more than 3% in early trading. Planned energy storage capacity far exceeds global demand. Lithium battery capacity applications reportedly basically suspended.

Contemporary Amperex Technology (03750) fell more than 3% in early trading. As of press time, it was down 3.10% at HK$532, with a turnover of HK$646 million. On the news front, several leading battery companies recently confirmed to Economic Observer that since the second half of this year, various regions have basically stopped accepting filings for new power battery and energy storage battery capacity, and applications for new power and energy storage battery capacity have basically been suspended. According to industry institution statistics, planned energy storage cell capacity expansion this year has exceeded 800GWh, with about 1.2 to 1.5TWh expected to be completed by the end of the year, and total planned capacity approaching 2TWh, far exceeding real demand in the global market. Contemporary Amperex Technology's interim results show that in the first half of 2026, revenue from the power battery business was 192.125 billion yuan, up 46.02% year on year; revenue from the energy storage battery business was 53.261 billion yuan, up 87.54% year on year. CLSA released a research report stating that Contemporary Amperex Technology's share price has pulled back about 15% over the past month, and has fallen 30% cumulatively from its May high. No positive catalysts have been seen in the short term, but it believes the share price has already reflected the relevant pessimistic expectations.