Latest news with #AmperexTechnology
AU Financial Review
21-05-2025
- Business
- AU Financial Review
‘Too big to fail' lithium producers unfazed by long price slump
One of Australia's biggest lithium producers says a Chinese battery giant's $7 billion Hong Kong's debut underscores long-term faith in the sector despite prices for the metal crashing to a four-year low. Contemporary Amperex Technology, which commands a third of the global supply of batteries, wrapped up the biggest sharemarket listing in the world this year by raising $HK35.7 billion ($7 billion) this week.
South China Morning Post
13-02-2025
- Automotive
- South China Morning Post
CATL eyes global dominance in EV battery market with US$5 billion cash reload
Contemporary Amperex Technology , mainland China's biggest producer of electric vehicle (EV) batteries, has been shrewd in seizing the opportunity presented by the stock market upswing to tap foreign investors for fresh capital, according to industry executives and analysts. CATL, as the company is known, is eager to replenish its coffers through a first-time Hong Kong stock offering to bolster its business outside the mainland, as it jostles with competitors like LG Energy Solution to supply to the world's biggest EV makers. 'Most of the company's money is in Chinese yuan,' said Ding Haifeng, a consultant at Shanghai-based financial advisory firm Integrity. 'A fundraising in Hong Kong will effectively reinforce its ambitions of becoming the undisputed champion of the world's EV battery market.' The Shenzhen-listed company had US$6.7 billion and €3.9 billion (US$4.04 billion) of cash in foreign currencies as of June 30 last year, according to its latest accounts. 02:01 China doubles down on subsidising trade-ins of conventional cars for EVs China doubles down on subsidising trade-ins of conventional cars for EVs CATL, which filed its initial public offering (IPO) plan to the Hong Kong bourse on Tuesday, is said to be seeking at least US$5 billion from its deal, potentially the largest share sale in the city since Kuaishou Technology raised US$6.2 billion in January 2021. Proceeds will be for building factories overseas, where growth has slowed. CATL's successful secondary listing would see the company join the likes of Alibaba Group Holding, Nio, Baidu and many others from the mainland. Alibaba, which owns the Post, raised US$13 billion in 2019 from its secondary share sale in the city.
South China Morning Post
11-02-2025
- Automotive
- South China Morning Post
Hong Kong IPO: EV battery king CATL files plan to pursue global expansion
Published: 9:10pm, 11 Feb 2025 Contemporary Amperex Technology , the world's largest producer of batteries for electric vehicles (EVs), is proceeding with a plan to list its shares in Hong Kong in what could be the city's biggest initial public offering (IPO) in more than four years. CATL, as the Chinese company is known, submitted its application draft with the Hong Kong stock exchange on Tuesday, following the board's approval in December. The IPO size and timeline were not disclosed. A US$5 billion deal, as reported by Reuters, would rank as the largest since Kuaishou Technology raised US$6.2 billion in January 2021. BofA Securities, China International Capital Corp, China Securities International and JPMorgan Chase were listed as joint sponsors, while Goldman Sachs, Morgan Stanley and UBS will also have an unspecified role in the deal, according to the draft. CATL's yuan-denominated shares fell 2.6 per cent to 251.80 yuan in Shenzhen before the announcement, giving it a market value of 1.1 trillion yuan (US$150.5 billion). They have declined about 5 per cent this year, after a 68 per cent surge in 2024. 12:53 'Overtaking on a bend': how China's EV industry charged ahead to dominate the global market 'Overtaking on a bend': how China's EV industry charged ahead to dominate the global market 'CATL has ambitions of expanding its worldwide footprint since it can chase higher profitability outside mainland China,' said Davis Zhang, a senior executive at Suzhou Hazardtex, a supplier of specialised batteries. 'With production and technological advantages over their global rivals, Chinese EV players are often welcome in overseas markets to localise their research and manufacturing expertise.'
