CATL(SZ:300750) Ge Long Hui·2025-12-30 14:03Core Viewpoint - CATL has successfully completed its annual station construction targets for both passenger and commercial vehicle battery swapping segments, significantly exceeding industry averages [1] Group 1: Passenger Vehicle Battery Swapping - The "Chocolate Battery Swapping" network has established 1,020 stations, surpassing the annual target [1] - By 2026, the plan is to build over 3,000 battery swapping stations across more than 140 cities, alongside the initiation of a highway network and an open franchise plan, with a long-term goal of 30,000 stations [1] Group 2: Commercial Vehicle Battery Swapping - The "Qiqiji Battery Swapping" network has completed 305 stations, also exceeding its annual target [1] - By 2026, the goal is to establish 900 stations, expanding the main routes to a "five horizontal and five vertical" network, with a vision to create an "eight horizontal and ten vertical" national battery swapping green network covering 80% of the mainline transport capacity by 2030 [1]