CITIC Securities: Ningde Timeshare issuance of new shares eliminates adverse factors, reaffirms "highly confident of outperforming the market" rating.

Guosen Securities released a research report stating that Contemporary Amperex Technology (CATL) is offering a 7% discount on its rights issue, raising 39.1 billion Hong Kong dollars. This eliminates the major disadvantages faced by the company and eases the recent uncertainties of investors. Guosen Securities reiterated their investment rating on CATL as "highly confident to outperform the market", with a target price of 820 Hong Kong dollars and 570 Chinese yuan for A shares. With the elimination of these disadvantages and a series of catalysts, the firm believes that the market will once again focus on CATL's long-term structural sustainable development strategy and the recovery momentum of the Chinese electric vehicle market.