HK Stock Market Move | CALB (03931) rises over 7%, dual drivers of power and energy storage push profitability upward, deliveries to major power customers continue to advance.

CALB (03931) rose over 7%, up 7.43% as of press time, at HK$18.65, with a turnover of HK$137 million. On the news front, in the first half of this year, CALB achieved operating revenue of RMB 27.084 billion, up 65% year-on-year; net profit attributable to shareholders was RMB 935 million, a sharp increase of 100.7% year-on-year. By business segment, power battery business revenue was RMB 16.506 billion, up 54.8% year-on-year; energy storage and other business revenue surged 83.8% year-on-year, far outpacing the power battery business, with its revenue share approaching 40%. In addition, several leading automakers have recently broken the industry convention of the past few years that "high-end new energy vehicles come standard with Contemporary Amperex Technology batteries," announcing partnerships with second-tier battery makers one after another, sparking heated discussion. It is understood that CALB's global power market share in the first half of the year was approximately 5.1%, with supporting supply for major customers in the passenger vehicle market continuing to advance. Deliveries for XPeng, Huawei HarmonyOS, and Toyota projects are progressing steadily, while the Xiaomi project has begun mass production supporting supply.