DT新材料·2025-05-18 15:13Group 1 - The core viewpoint of the article highlights the successful H-share listing of CATL, aiming to raise up to HKD 41 billion (USD 5.3 billion) with a subscription rate exceeding 120 times, indicating strong investor interest [1][3] - Major cornerstone investors include Sinopec (Hong Kong), Hillhouse Capital, Kuwait Investment Authority, and others, with Sinopec and Kuwait Investment Authority planning to subscribe for 12.50% of the shares each [1][2] - CATL's strategy for the H-share listing is to enhance its global presence and capitalize on the energy transition, with 90% of the IPO proceeds allocated to the construction of projects in Hungary [3] Group 2 - Sinopec and CATL have established a partnership in various sectors, including battery swapping and energy products, with plans to build a nationwide battery swapping network by 2025 [2] - CATL has maintained its position as the world's largest battery manufacturer for eight consecutive years, with a market share of 38.3% as of Q1 2025 [2][3] - In 2024, CATL's revenue is projected to reach CNY 362.01 billion, with a net profit of CNY 50.75 billion, showcasing its strong financial performance compared to Sinopec [3]