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CATL profit jump fuels Hong Kong battery stocks amid global energy storage boom (www.scmp.com)

submitted 3 weeks ago by rss@news.abolish.capital to c/china@news.abolish.capital

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Betting on rising global demand for energy storage, shares of Chinese lithium battery makers continued to rally on Wednesday, led by Contemporary Amperex Technology Ltd (CATL), which reported stronger-than-expected growth driven in part by its expansion into new energy storage markets. CATL shares surged more than 10 per cent to HK$608 during morning trading hours in Hong Kong on Wednesday – the highest level in five months – before closing 9 per cent higher at HK$599.50. That followed another 9...

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