HK Stock Market Move | CALB(03931) rises over 7% as automakers accelerate binding with second-tier battery manufacturers; the company's customer structure continues to optimize.

CALB(03931) rose over 7%, up 6.51% as of press time, at HK$17.5, with a turnover of HK$99.6525 million. On the news front, recently, Li Auto and Xiaomi Auto have accelerated their binding with second-tier battery manufacturers, becoming a hot topic of market discussion. The Pengcheng series extended-range SUVs launched by Xiaomi on September 7 did not use Contemporary Amperex Technology batteries across the entire lineup, among which the 76kWh ternary lithium batteries equipped in the N70 Max and N90 Max are supplied by CALB. Xiaomi Auto announced on September 4 that it has formed a strategic cooperation with CALB and Sunwoda Electronic around its self-developed Longjia battery, and Li Auto also newly introduced CALB as its third power battery supplier in September. In the first half of this year, CALB achieved operating revenue of 27.084 billion yuan, a year-on-year increase of 65%; it achieved net profit attributable to shareholders of 935 million yuan, a sharp year-on-year increase of 100.7%. In the first half of the year, revenue from the power battery business was 16.506 billion yuan, a year-on-year increase of 54.8%. In the passenger vehicle sector, the company not only deepened cooperation with existing customers such as XPeng, but also successfully started mass-production supporting supply for Xiaomi Auto and entered Huawei's JuJing battery platform supply system, with its customer structure continuing to optimize.