CATL(SZ:300750) IPO日报·2025-09-15 06:00Core Viewpoint - The article highlights the significant rise in the stock price of CATL ("宁王"), which reached a new high, driven by favorable policies and market conditions in the energy storage sector [2][3]. Group 1: Stock Performance - On September 15, CATL's stock opened at 346.01 CNY and surged to 371.52 CNY, marking an increase of over 14% and a market capitalization exceeding 1.7 trillion CNY [2]. - The rise of CATL positively impacted the battery sector, with several companies experiencing substantial gains, such as Zhongyi Technology (20% increase) and Tianhong Lithium Battery (17.64% increase) [2]. Group 2: Policy Influence - The National Development and Reform Commission and the National Energy Administration released a plan for new energy storage development from 2025 to 2027, aiming for a new storage capacity of over 180 million kilowatts and direct investments of approximately 250 billion CNY [2][3]. - The plan encourages new energy storage to participate in the electricity market, promoting a combined bidding approach for "new energy + storage" [3]. Group 3: Market Valuation - As of September 15, CATL's stock price was 356.38 CNY, with a market cap of 1.63 trillion CNY and a price-to-earnings ratio of 27.91, which is considered relatively favorable compared to other companies in the sector [4]. - The article notes that while CATL's valuation is not cheap, it is significantly lower than that of competitors like "易中天" (over 60 times) and "寒王" (over 500 times) [4]. Group 4: Investment Insights - The article emphasizes the importance of understanding market dynamics, noting that only 18.9% of retail investors in A-shares are profitable, with a staggering 99.9% loss rate for accounts under 10,000 CNY [4]. - It suggests that institutional investors often engage in momentum trading, and while retail investors can follow these trends, they should remain cautious about the associated risks [5][6].