Core Viewpoint - Ningde Times has shown strong performance in the stock market, with significant price increases in both A-shares and Hong Kong stocks, reflecting investor confidence in the company's technological advancements and market position [1][2]. Group 1: Stock Performance - Ningde Times' A-share price increased by 12.99%, reaching 313.45 CNY, with a trading volume exceeding 12.87 billion CNY [1]. - The company's Hong Kong stock also performed well, rising by 7.81% to 439.0 HKD, with a trading volume of 1.27 billion HKD [1]. Group 2: Technological Advancements - The company has been actively promoting technological innovation, launching products such as the second-generation supercharging battery, which can charge in 5 minutes for a range exceeding 520 kilometers [1]. - Additionally, the sodium-ion battery products demonstrated performance metrics comparable to lithium iron phosphate batteries, enhancing the product portfolio to meet diverse market demands [1]. Group 3: Market Position and Valuation - Current dynamic price-to-earnings ratio of Ningde Times is 21.67, which is below the average level of the past three years, indicating potential for valuation recovery [2]. - The company has established a technological moat with the mass production of sodium batteries and a 40% market share of the Kirin battery [2]. - Market concentration is expected to increase, with leading companies in the lithium battery sector showing promising profit elasticity due to cost and technological advantages [2].

Core Viewpoint - CATL (Contemporary Amperex Technology Co., Limited) has successfully listed on the Hong Kong Stock Exchange, with a closing price of 306.20 HKD, reflecting a 16.43% increase from the opening price of 296.00 HKD [1] Group 1: Company Overview - CATL is a global leader in innovative energy technology, primarily engaged in the research, production, and sales of power batteries and energy storage batteries [1] - The company aims to promote the replacement of mobile and fixed fossil energy through electrification and intelligence [1] Group 2: IPO Details - The total number of shares issued by CATL is 135,578,600, with 10,168,400 shares allocated for public offering in Hong Kong and 125,410,200 shares for international offering [2] - The final offering price was set at 263.00 HKD, raising a total of 35,657.2 million HKD, with a net amount of 35,331.2 million HKD after deducting estimated listing expenses of 325.9 million HKD [2][3] - The net proceeds from the fundraising will be used for the construction of the first and second phases of the Hungary project, working capital, and other general corporate purposes [3] Group 3: Historical Fundraising - Over the past five years, CATL has raised a total of 64.7 billion RMB through two fundraising rounds [7]

Core Viewpoint - Contemporary Amperex Technology Co., Limited (CATL) officially listed on the Hong Kong Stock Exchange, opening at HKD 296, with a gain of 12.55% on the first day [1][4]. Company Overview - CATL is a global leader in new energy innovation technology, primarily engaged in the research, production, and sales of power batteries and energy storage batteries, aiming to promote the replacement of fossil fuels through electrification and intelligence [4][5]. Market Position - CATL has maintained the highest global market share in power batteries for eight consecutive years since 2017 and has been the top supplier of energy storage batteries for three years since 2021. One in every three new energy vehicles globally is equipped with CATL batteries, with over 1,700 energy storage projects worldwide [5][8]. Global Operations - As of September 30, 2024, CATL operates six R&D centers, 13 production bases, and over 730 service stations globally, including 156 overseas. The Thuringia plant in Germany is the first battery base in Europe certified by Volkswagen, with projects in Hungary, Spain, and Indonesia progressing rapidly [5][10]. Strategic Partnerships - CATL has established long-term strategic partnerships with nine of the top ten new energy vehicle manufacturers globally, including BMW, Mercedes-Benz, and Toyota, as well as with major energy storage system integrators and developers [8][9]. Financial Performance - CATL's revenue for 2022, 2023, and projected for 2024 is CNY 328.6 billion, CNY 400.9 billion, and CNY 362.01 billion, respectively, with corresponding net profits of CNY 33.5 billion, CNY 47.3 billion, and CNY 55.3 billion. The net profit margin is expected to increase from 10.2% in 2022 to 15.3% in 2024 [10][11]. Profitability - The gross profit of CATL increased from CNY 58 billion in 2022 to CNY 76.9 billion in 2023, with a further increase to CNY 88.5 billion projected for 2024. The gross profit margin is expected to rise from 17.6% in 2022 to 24.4% in 2024 [11]. Strategic Directions - CATL is advancing its business development based on three strategic directions: "Electrochemical Energy Storage + Renewable Energy Generation," "Power Batteries + New Energy Vehicles," and "Electrification + Intelligence." The company has established four innovation systems to support its business development [13]. Fund Utilization - 90% of the funds raised from CATL's Hong Kong IPO will be used to advance the first and second phases of the Hungary project, with a total investment of approximately EUR 4.9 billion, of which EUR 700 million has already been invested [14].

Core Viewpoint - Ningde Times plans to globally issue approximately 118 million H-shares, with a maximum offering price of HKD 263.00 per share, aiming to raise around HKD 30.72 billion for its projects and operational needs [1][4]. Group 1: Company Overview - The company is a global leader in innovative energy technology, primarily engaged in the research, production, and sales of power and energy storage batteries [2]. - As of December 31, 2024, the company has established six R&D centers and thirteen manufacturing bases worldwide, serving clients in 64 countries and regions [2]. - The company has equipped over 17 million electric vehicles with its batteries, indicating a significant market presence [2]. Group 2: Fundraising and Investment - The cornerstone investors have agreed to subscribe for shares totaling approximately USD 2.628 billion (or about HKD 203.71 billion) at the maximum offering price [3]. - The company expects to receive net proceeds of approximately HKD 30.72 billion from the global offering, with 90% allocated to the Hungary project and 10% for working capital [4]. Group 3: Hungary Project Details - The Hungary project, located in Debrecen, will have a total land area of 1.05 million square meters, with planned capacities of 34GWh and 38GWh for the first and second phases, respectively [5]. - The total investment for the first and second phases is estimated at EUR 4.9 billion, with the first phase expected to be completed by 2025 [6]. - As of December 31, 2024, the company has invested approximately EUR 700 million in the Hungary project [5][6].

Core Viewpoint - The company, CATL, is planning to launch an initial public offering (IPO) of 118 million H-shares globally, with a maximum price of HKD 263 per share, aiming to raise approximately HKD 30.718 billion for project development and operational needs [1][4]. Group 1: Company Overview - CATL is a global leader in innovative energy technology, primarily engaged in the research, production, and sales of power and energy storage batteries [2]. - As of December 31, 2024, CATL has established six R&D centers and thirteen manufacturing bases worldwide, serving customers in 64 countries and regions [2]. - The company has equipped over 17 million vehicles with its power batteries, with one in three new energy vehicles globally using CATL batteries [2]. Group 2: Financial Performance - CATL reported revenues of RMB 328.6 billion, RMB 400.9 billion, and RMB 362 billion for the years 2022, 2023, and 2024, respectively, indicating a 9.7% decrease from 2023 to 2024 due to lower sales prices despite increased sales volume [3]. - The company's annual profits for the same years were RMB 33.5 billion, RMB 47.3 billion, and RMB 55.3 billion, reflecting a year-on-year growth of 41.5% and 16.8% [3]. - CATL maintained a net profit margin of 10.2%, 11.8%, and 15.3% for the years 2022, 2023, and 2024, respectively, alongside a stable cash flow with net cash from operating activities of RMB 61.2 billion, RMB 92.8 billion, and RMB 97 billion [3]. Group 3: IPO Details - The IPO will consist of 7.5% of shares offered in Hong Kong and 92.5% internationally, with an option for underwriters to purchase additional shares [1]. - The estimated net proceeds from the IPO, assuming no exercise of the over-allotment option, will be approximately HKD 30.718 billion, with 90% allocated to the first and second phases of a project in Hungary [4]. - CATL has secured cornerstone investment agreements with major investors, committing to purchase shares totaling approximately USD 2.628 billion [4].

雷递网 雷建平 5月6日 宁德时代新能源科技股份有限公司（简称："宁德时代"，股票代码："300750"）日前通过上市聆讯，准备在港交所上市。 一旦在港交所上市，宁德时代将形成"A+H"股的格局。这将是继美的集团、顺丰控股之后，又一家在港交所上市的市值超千亿的巨头。 截至今日收盘，宁德时代股价为231.63元，市值为1.02万亿。 市场估计，宁德时代此次融资至少50亿美元。 近期，恒瑞医药也通过了上市聆讯，准备在港交所上市。 恒瑞医药实控人为孙飘扬，孙飘扬的妻子钟慧娟也很厉害，钟慧娟2019年6月带领了翰森制药港交所上市，当时市值超过千亿港元。 随着恒瑞医药在港股上市，孙飘扬与钟慧娟这对中国最牛医药夫妻档，将在港股上再度上演新的传奇故事。 宁德时代第一季营收847亿 净利139.63亿 宁德时代的储能客户及合作方包括NextEra、Synergy、Wärtsilä、Excelsior、Jupiter Power、Flexgen、国家能源集团、国家电力投资集团、中国华能、中国 华电、中石油等。 宁德时代通过参股、合资、技术授权等方式进一步深化与客户的合作。 宁德时代2025年第一季度营收为847亿元，较上年同期 ...

用时25天！宁德时代取得境外发行上市备案通知 书，赴港上市再提速 转自：新华财经 新华财经上海3月26日电（记者 郭慕清）记者26日从宁德时代获悉，宁德时代已于3月25日取得中国证 监会国际司出具的境外发行上市备案通知书，项目从备案受理至获得备案通知书仅耗时25天，创近年来 境外发行备案最快纪录之一，标志着宁德时代港股上市进程正顺利推进。 2024年4月，中国证监会发布5项资本市场对港合作措施，其中提出"支持内地行业龙头企业赴香港上 市"，为A股企业赴港上市提供了有力的政策支持和引导。本次宁德时代迅速取得备案通知书，彰显了 监管部门对公司全球化战略的高度支持。 作为全球领先的新能源创新科技公司，宁德时代此次赴港上市计划自启动以来便备受关注。2024年12 月，宁德时代首次公告筹划发行H股股票并在香港联合交易所有限公司主板上市，随后于2025年2月11 日向港交所正式递交申请。宁德时代有望成为港股近年来规模最大的IPO，投资者对其表现出强烈兴 趣，反映出对公司基本面、市场地位和技术优势的高度认可。 2024年年度报告显示，宁德时代实现营业收入3620亿元，实现归属于上市公司股东的净利润507亿元， 同比增长15 ...

Core Viewpoint - Ningde Times reported a revenue of 362.01 billion yuan for 2024, a year-on-year decrease of 9.70%, while net profit increased by 15.01% to 50.75 billion yuan [1][2][3] Financial Performance - The company will not implement capital reserve transfers or stock dividends for 2024, but plans to distribute a cash dividend of 45.53 yuan per 10 shares, totaling nearly 20 billion yuan [1] - This marks the first annual revenue decline since 2015, with a continuous decline in revenue over five consecutive quarters [2][3] - The revenue drop is attributed to a decrease in product prices due to falling raw material prices, despite an increase in battery product sales [2][3] Market Dynamics - Global sales of new energy vehicles reached 17.63 million units in 2024, a year-on-year increase of 26.1%, driving demand for power batteries [3] - The global power battery usage reached 894.4 GWh, up 27.2% year-on-year [3] - The energy storage battery market is also experiencing rapid growth, with global shipments reaching 301 GWh, a 62.7% increase year-on-year [3] Product Sales - Ningde Times achieved lithium-ion battery sales of 475 GWh in 2024, a year-on-year increase of 21.79% [3] - Power battery system sales were 381 GWh, up 18.85% year-on-year, while energy storage battery system sales reached 93 GWh, increasing by 34.32% [3] Company Positioning - The company is recognized as a global leader in new energy innovation, focusing on the research, production, and sales of power and energy storage batteries [3] - It aims to replace fossil energy through electrification and intelligence, providing innovative solutions in various fields, including battery materials and recycling [3]