CATL(SZ:300750) Shang Hai Zheng Quan Bao·2025-05-20 19:22Core Viewpoint - CATL's listing on the Hong Kong Stock Exchange marks a significant step towards integrating into the global capital market and advancing the global zero-carbon economy [1] Group 1: IPO Details - CATL's IPO price was set at HKD 263 per share, with a total global offering of approximately 135.6 million shares, raising nearly USD 4.6 billion, making it the largest H-share IPO in nearly four years [2] - The IPO attracted a diverse range of investors from 15 countries and regions, including sovereign funds, industry capital, and long-term institutional investors [2] - The public offering saw a subscription rate exceeding 120 times, with total subscription amounts surpassing HKD 280 billion, ranking third in the recent Hong Kong IPO freeze capital list [3] Group 2: Fund Utilization - Approximately 90% of the raised funds, amounting to HKD 276.46 billion, will be allocated to the construction of a factory in Debrecen, Hungary, which is CATL's first overseas production base [4] - The Hungarian factory is planned to have a total capacity of 72 GWh and will support major European automakers such as BMW and Mercedes-Benz [5] - The remaining 10% of the funds will be used as working capital for daily operations [4] Group 3: Strategic Vision - CATL aims to position itself not only as a battery component manufacturer but also as a provider of system solutions, aspiring to become a pioneer in the global zero-carbon economy [5] - The company is actively expanding its domestic business and predicts that the penetration rate of new energy heavy trucks will exceed 50% in the next three years [5]