CATL(SZ:300750) Zhi Tong Cai Jing·2025-11-21 06:17Core Viewpoint - CATL's stock price has dropped over 4% due to the unlocking of nearly 50% of its H-share IPO locked shares, leading to potential selling pressure [1] Group 1: Stock Performance - As of the report, CATL's stock price fell by 4.02%, trading at 463.6 HKD with a transaction volume of 2.109 billion HKD [1] - The current H-share price is at a 23% premium compared to its A-share price, which is unusual for dual-listed shares [1] Group 2: Share Unlocking and Potential Selling - Approximately 77.5 million shares are facing potential selling pressure after the unlocking that began on November 20 [1] - Morgan Stanley indicated that some strategic investors, such as Sinopec, are unlikely to sell their shares, but the overall market sentiment may still be affected [1] Group 3: Major Shareholder Activity - Major shareholder Huang Shilin plans to transfer 45.6324 million shares through an inquiry-based transfer, representing 1% of the total share capital as of November 13, 2025 [1] - The preliminary transfer price is set at 376.12 CNY per share, which would allow Huang Shilin to cash out approximately 17.163 billion CNY [1] - Huang Shilin is a co-founder of CATL and currently holds 10.21% of the company's shares, making him the third-largest shareholder [1]