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超1400亿港元“抢购”!“宁王”港股人气火爆,基石投资者阵容豪华
券商中国·2025-05-14 06:03

Core Viewpoint - CATL is launching its Hong Kong IPO with significant investor interest, indicating a strong market recovery for Hong Kong IPOs in 2025 [1][2][6] Group 1: IPO Details - As of May 14, the total margin subscription for CATL's IPO reached approximately 141.8 billion HKD, with a subscription multiple nearing 61 times [3] - The IPO price is set at 263 HKD per share, with expected net proceeds of around 30.718 billion HKD, primarily allocated for projects in Hungary [4][5] - The offering includes about 11.8 million H-shares, with 7.5% allocated for Hong Kong and 92.5% for international investors [3] Group 2: Market Context - The Hong Kong IPO market has shown significant recovery in 2025, with 20 companies listed by May 13, outperforming the previous year in terms of first-day profit effects [2][6] - Regulatory improvements and the return of international capital are expected to further enhance the Hong Kong market [2][6] Group 3: Company Performance - CATL reported a revenue of 84.7 billion RMB in Q1 2025, a 6.2% year-on-year increase, with battery sales exceeding 120 GWh, marking over 30% growth [7] - The company achieved a net profit margin of 17.5% in Q1 2025, the highest quarterly level since 2018, with a net profit of 13.96 billion RMB, up 32.9% year-on-year [7] - CATL's market share in the European battery market has grown from 17% in 2021 to 38% in 2024, maintaining a leading position [8]