Morgan Stanley: Contemporary Amperex Technology is expected to occupy a favorable position in the wave of electrification.

Analysts at Macquarie stated that CATL is expected to benefit from the global trend towards electrification, and highlighted that the company's scale and research and development advantages are major barriers for competitors. Macquarie mentioned that, due to higher capacity utilization and increased scale, CATL's gross margin of 28% in the fourth quarter exceeded expectations. This indicates that despite cost risks and geopolitical uncertainties, the company's profitability may continue to strengthen in the next 12 to 18 months. The brokerage maintained its "outperform" rating on the stock and revised its target price down by 7% to 400 RMB. The stock closed at 396.80 RMB.