更多资料加入知识星球：水木调研纪要 关注公众号：水木纪要 What's next? Other customers such as Tesla and Sungrow may also need to secure CATL's battery supply. And then CATL may secure material supply. Reiterating OW on CATL-A, as well as its suppliers Yunnan Energy and Tinci: We think CATL should easily pass through raw material price hikes, if any. For more details, please see: November 12, 2025 02:49 PM GMT M Update Contemporary Amperex Technology Co. Ltd. | Asia Pacific ESS: Securing Good Batteries, Winning the Market 更多一手调研纪要和海外投行 ...