On February 11, 2025, CATL (300750.SZ), the global leader in power batteries and the world's top market share holder for eight consecutive years, officially submitted its H-share listing application to the Hong Kong Stock Exchange, aiming to raise at least USD 5 billion (CNY 36.4 billion). It is reported that the funds raised will primarily be used for overseas capacity expansion, international business development, and supplementing overseas working capital, providing financial support for the company's long-term internationalization strategy.
CATL's secondary listing in Hong Kong is not primarily driven by funding needs but is crucial for its global expansion.
Financial reports show that in the first three quarters of 2024, CATL's overseas revenue accounted for 30% of its total revenue, with accelerated expansion in its power battery and energy storage businesses. Through this H-share listing, CATL can effectively reserve foreign exchange funds for overseas projects, and enhance its cross-border resource integration capabilities through an international capital platform, further allocating global resources.
As a global enterprise, CATL will leverage Hong Kong's advantageous position as one of the world's financial centers to establish closer ties with international investors and attract more potential overseas customers or partners.
Notably, "Hong Kong Times Company", the holding entity of CATL's German factory, is the only regional subsidiary of CATL without manufacturing operations, focusing solely on investment and trade. This reveals CATL's intention to integrate overseas assets through Hong Kong.