CATL is said to become the largest IPO in Hong Kong in recent years
On March 26, the China Securities Regulatory Commission (CSRC) website announced the filing notice for the overseas issuance and listing of Contemporary Amperex Technology Co., Limited (CATL, 300750.SZ). CATL plans to issue no more than 220,169,700 overseas ordinary shares and list on the Hong Kong Stock Exchange. The proposed funds raised will be used to advance the construction of Phase I and Phase II of the Hungary project, as well as for working capital and other general corporate purposes. The sponsors and overall coordinators include Bank of America, China International Capital Corporation, China Citic Construction and Investment International, JPMorgan Chase, Goldman Sachs, Morgan Stanley, and UBS.
CATL is a Chinese globally leading new-energy innovation technology company. The company is mainly engaged in the R&D, production, and sales of power batteries and energy storage batteries, aiming to promote the substitution of mobile fossil energy and fixed fossil energy. It also achieves innovation in market applications through electrification and intelligentization.
As of September 30, 2024, CATL has established six R&D centers and thirteen battery manufacturing bases around the world, with service outlets covering 64 countries and regions.
CATL's business extends globally. It has established long-term and in-depth strategic cooperation with well-known global automakers, energy storage system integrators, energy storage project developers, or operators. According to a report from Gaogong Industry Research Institute, by the end of 2024, the company has covered nine of the top ten global new-energy vehicle sellers.
As of September 30, 2024, CATL has 13 battery production bases worldwide. In addition to China, the company has built a battery production base in Thuringia, Germany. It has become the first battery manufacturer to obtain module certification from Volkswagen Group globally and the first to obtain cell certification from Volkswagen Group in Europe.
According to CATL's 2024 annual report, during the reporting period, the company achieved a revenue of CNY 362.013 billion, a year-on-year decrease of 9.70%; a net profit attributable to shareholders of CNY 50.745 billion, a year-on-year increase of 15.01%; a net profit after non-recurring gains and losses of CNY 44.993 billion, a year-on-year increase of 12.23%; and a basic earnings per share of CNY 11.58.
