CATL(SZ:300750) Ge Long Hui A P P·2025-08-11 02:48Core Viewpoint - The report from Citi indicates that CATL's Yichun lithium mine has suspended production due to the expiration of its mining license, which may have limited operational impact on the company due to its diversified lithium resource supply channels [1] Group 1: Company Impact - The suspension of the Yichun plant is expected to have a limited operational impact on CATL, as the company can quickly shift to third-party procurement if necessary [1] - CATL has demonstrated strong profit defense capabilities during periods of lithium price volatility, suggesting it can better withstand shocks compared to its peers [1] Group 2: Industry Implications - The suspension may lead to significant ripple effects in the global lithium supply landscape, potentially increasing market sentiment towards lithium prices [1] - Short-term upward risks for lithium prices are anticipated, which could suppress battery manufacturers' profits in the second half of the year [1] Group 3: Ratings and Targets - Citi reaffirms a "highly confident outperform" rating for CATL's A-shares with a target price of 390 yuan, and an "outperform" rating for its H-shares with a target price of 535 Hong Kong dollars [1]