CATL(SZ:300750) 智通财经网·2025-05-11 22:47Core Viewpoint - The company, CATL, is planning to launch an initial public offering (IPO) of 118 million H-shares globally, with a maximum price of HKD 263 per share, aiming to raise approximately HKD 30.718 billion for project development and operational needs [1][4]. Group 1: Company Overview - CATL is a global leader in innovative energy technology, primarily engaged in the research, production, and sales of power and energy storage batteries [2]. - As of December 31, 2024, CATL has established six R&D centers and thirteen manufacturing bases worldwide, serving customers in 64 countries and regions [2]. - The company has equipped over 17 million vehicles with its power batteries, with one in three new energy vehicles globally using CATL batteries [2]. Group 2: Financial Performance - CATL reported revenues of RMB 328.6 billion, RMB 400.9 billion, and RMB 362 billion for the years 2022, 2023, and 2024, respectively, indicating a 9.7% decrease from 2023 to 2024 due to lower sales prices despite increased sales volume [3]. - The company's annual profits for the same years were RMB 33.5 billion, RMB 47.3 billion, and RMB 55.3 billion, reflecting a year-on-year growth of 41.5% and 16.8% [3]. - CATL maintained a net profit margin of 10.2%, 11.8%, and 15.3% for the years 2022, 2023, and 2024, respectively, alongside a stable cash flow with net cash from operating activities of RMB 61.2 billion, RMB 92.8 billion, and RMB 97 billion [3]. Group 3: IPO Details - The IPO will consist of 7.5% of shares offered in Hong Kong and 92.5% internationally, with an option for underwriters to purchase additional shares [1]. - The estimated net proceeds from the IPO, assuming no exercise of the over-allotment option, will be approximately HKD 30.718 billion, with 90% allocated to the first and second phases of a project in Hungary [4]. - CATL has secured cornerstone investment agreements with major investors, committing to purchase shares totaling approximately USD 2.628 billion [4].