CATL(SZ:300750) Zhi Tong Cai Jing·2025-11-17 05:46Core Viewpoint - CATL's stock price has experienced a decline of nearly 4%, attributed to the announcement of a significant share reduction by a major shareholder, which may lead to increased selling pressure in the market [1] Group 1: Shareholder Actions - The company's co-founder and third-largest shareholder, Huang Shilin, plans to reduce his stake by transferring 45.6324 million shares, representing 1% of the total share capital [1] - The estimated market value of this share reduction is approximately 18.44 billion yuan, based on the closing price of 404.12 yuan on the announcement day [1] - Even at a minimum transfer price of 70% of the market value, the total value of the shares would still exceed 10 billion yuan [1] Group 2: Market Analysis - JPMorgan has issued a report advising caution regarding the actual constraints of CATL's recent 200GWh energy storage battery order from Haibosi [1] - Starting from November 20, nearly 50% of the H-share IPO locked shares will be unlocked, with approximately 77.5 million shares facing potential selling pressure [1] - Despite these challenges, the company is expected to be included in the Hang Seng Tech Index, which could trigger passive capital inflows [1] Group 3: Price Target Adjustments - In light of the mixed factors affecting the company, JPMorgan has lowered its target price for CATL from 600 HKD to 575 HKD, while the target price for A-shares is set at 480 yuan [1]