China Battery and Components_ Strong March shipments seen (+15% mom); strengthens our cyclical recovery view. Buy CATL (on CL...
2025-03-03 10:45
1 March 2025 | 6:05PM HKT China Battery and Components Strong March shipments seen (+15% mom); strengthens our cyclical recovery view. Buy CATL (on CL), Yuneng March battery shipments seen beating expectations. According to ICCSino, March 2025 will likely be a surprisingly strong month for China battery shipments, with a mom increase of +15% (Exhibit 1, vs. consensus of single digit). Given Jan-Feb are usually low seasons for battery shipments as a result of Chinese new year holidays, we view the potential ...