CICC Lyon: Korean battery manufacturers once again receive orders from Tesla (TSLA.US), limited impact on Contemporary Amperex Technology Co. Limited (03750.HK), reiterates "outperform" rating.

Intelligent financial news app learned that Zhongxin Liang released a research report stating that a South Korean battery manufacturer has received a second order for energy storage systems (ESS) from Tesla (TSLA.US), which may seem unfavorable for CATL (03750.HK). However, with the strong growth of the global energy storage market, it is difficult for CATL alone to meet market demand and more suppliers need to participate. The bank believes that the more important catalyst for CATL is if the US tariffs or policy environment improves, it will achieve a breakthrough in the US market, significantly boosting market confidence. The bank maintains a target price of HK$685 for the group and reiterates its "outperform" rating.