Latest news with #Ningde
South China Morning Post
20-05-2025
- Automotive
- South China Morning Post
CATL's EV battery plants to become carbon neutral this year, founder says
Contemporary Amperex Technology (CATL), the world's largest electric vehicle (EV) battery maker, expects to become carbon neutral this year, burnishing its image as a leading developer of zero-carbon solutions. 'This year, all CATL battery factories will achieve carbon neutrality,' Robin Zeng Yuqun, the firm's billionaire founder and chairman, said before the company's debut on the Hong Kong stock exchange on Tuesday. 'This listing signifies our deeper integration into the global capital markets and marks a new milestone in our mission to drive the global zero-carbon economy.' He said the company would offer its technologies and solutions to its partners globally to promote the transition of conventional sectors like steel, cement and chemicals to clean energy. CATL announced in April 2023 its plan to achieve carbon neutrality in its core operations by 2025 and across the battery value chain by 2035. The company's Zhaoqing plant was the first to be certified as a zero-carbon factory in 2022. It has since achieved this status across a total of four factories. The company's overall carbon emissions fell 34 per cent year on year to 2.1 million tons in 2023, according to its ESG report released in September. Robin Zeng Yuqun, CATL's founder and chairman, at the company's listing ceremony in Hong Kong on Tuesday. Photo: Sun Yeung The company, based in Ningde, in east China's Fujian province, has been aggressively diversifying into a wide range of businesses beyond EV battery production.
South China Morning Post
20-05-2025
- Automotive
- South China Morning Post
CATL's EV battery plants to become carbon neutral this year, CEO Zeng says
Contemporary Amperex Technology (CATL), the world's largest electric vehicle (EV) battery maker, expects to become carbon neutral this year, burnishing its image as a leading developer of zero-carbon solutions. Advertisement 'This year, all CATL battery factories will achieve carbon neutrality,' Robin Zeng Yuqun, founder and chairman, said before the company's debut on the Hong Kong stock exchange on Tuesday. 'This listing signifies our deeper integration into the global capital markets and marks a new milestone in our mission to drive the global zero-carbon economy.' He said the company would offer its technologies and solutions to its partners globally to promote the transition of conventional sectors like steel, cement and chemicals to clean energy. CATL announced in April 2023 its plan to achieve carbon neutrality in its core operations by 2025 and across the battery value chain by 2035. The company's Zhaoqing plant was the first to be certified as a zero-carbon factory in 2022. It has since achieved this status across a total of four factories. The company's overall carbon emissions fell 34 per cent year on year to 2.1 million tons in 2023, according to its ESG report released in September. Robin Zeng Yuqun, CATL's founder and chairman, at the company's listing ceremony in Hong Kong on Tuesday. Photo: Sun Yeung The company, based in Ningde, in east China's Fujian province, has been aggressively diversifying into a wide range of businesses beyond EV battery production. Advertisement
South China Morning Post
16-05-2025
- Business
- South China Morning Post
CATL's dilemma: top-of-the-range Hong Kong IPO price may take fizz out of trading debut
The pricing of Contemporary Amperex Technology's (CATL) Hong Kong shares at the top end of the range bodes well for China's leading companies eyeing a listing in the city, but the richly valued offer price may hurt the new stock's first-day performance due to its smaller-than-average discount to the company's mainland-traded shares. The Ningde, Fujian province-based maker of lithium-ion batteries that power electric vehicles (EV) is expected to raise HK$35.66 billion (US$4.6 billion) from the sale of 135.6 million shares at HK$263 apiece, the Post reported on Wednesday, making it the world's largest listing this year. CATL will reveal the final offer price on Monday night and start trading the following day. Shenzhen-listed CATL , which is capitalised at 1.2 trillion yuan (US$166.4 billion), is the ninth-biggest company trading on the mainland and one of the few big names that have yet to go public in Hong Kong. Wu Qing, chairman of the China Securities Regulatory Commission, reaffirmed the support for high-quality Chinese companies to list in the city last week, showcasing Beijing's resolve to solidify Hong Kong's position as a top global financial centre amid an all-out confrontation with the US. The Hong Kong stock exchange also said that it would fast-track approvals for dual listings. Mixue Group's mascot Snow King strikes a gong during the company's listing ceremony at the Hong Kong stock exchange on March 3. Photo: Reuters CATL's listing 'is actually one of the major measures to support Hong Kong's equity market, and one of the ways to help Chinese leading companies to capture more international funds', said Jason Chan, an equity strategist at Bank of East Asia in Hong Kong. CATL's offer price is 6.7 per cent below the close of 260.18 yuan for its Shenzhen-listed shares on Thursday. That compares with the average 25 per cent discount for the Hong Kong-traded shares of the 158 dual-listed Chinese companies, such as ICBC and Ping An Insurance Group.
The Standard
13-05-2025
- Business
- The Standard
Investors advised to limit CATL new share subscriptions to five board lots
A CATL sign stands outside its research and development hub and the Chinese battery maker's headquarters in Ningde, Fujian province, China. REUTERS
Free Malaysia Today
12-05-2025
- Automotive
- Free Malaysia Today
Chinese EV battery giant CATL aims to raise US$4 bn in Hong Kong IPO
CATL produces more than a third of all electric vehicle (EV) batteries sold worldwide. (Pandaily pic) HONG KONG : Chinese EV battery giant CATL aims to raise US$4 billion in its Hong Kong listing scheduled for May 20, said a statement filed to the bourse today, making it the largest IPO expected in the city so far this year. A global leader in the sector, CATL produces more than a third of all electric vehicle (EV) batteries sold worldwide, working with major brands including Tesla, Mercedes-Benz, BMW and Volkswagen. The company is already listed in Shenzhen, and its plan for a secondary listing in Hong Kong was announced in a December filing with the stock exchange. According to a prospectus filed today, CATL will offer approximately 117.9 million units priced at up to HK$263 per share for total expected proceeds of HK$31.01 billion. The listing is set to take place next Tuesday. Cornerstone investors, including Sinopec and Kuwait Investment Authority, agreed to buy shares worth HK$2.62 billion, the prospectus shows. Founded in 2011 in the eastern Chinese city of Ningde, Contemporary Amperex Technology Co., Limited (CATL) was initially propelled to success by rapid growth in the domestic market. But the world's largest EV market has more recently begun to show signs of flagging sales amid a broader slowdown in consumption. The trends have fuelled a fierce price war in China's expansive EV sector, putting smaller firms under huge pressure to compete while remaining financially viable. But CATL continues to post solid performances, with its net profit jumping 32.9% in the first quarter. Funds raised from a secondary listing could be used to accelerate CATL's overseas expansion, particularly in Europe. The battery giant is building its second factory on the continent in Hungary after launching its first in Germany in January 2023. In December, CATL announced that it would work with automotive giant Stellantis on a US$4.3 billion factory to make EV batteries in Spain, with production slated to begin by the end of 2026. 'Military-linked company' Earlier analysts said CATL's float could be a blockbuster initial public offering that could boost Hong Kong's fortunes as a listing hub. Hong Kong's stock exchange is eager for the return of big-name Chinese listings in hopes of regaining its crown as the world's top IPO venue. The Chinese finance hub saw a steady decline in new offerings since Beijing's regulatory crackdown starting in 2020 led some Chinese mega-companies to put their plans on hold. In a list issued in January by the US defense department, CATL was designated as a 'Chinese military company'. The US house select committee on the Chinese Communist Party highlighted this inclusion in letters to two American banks in April, urging them to withdraw from the IPO deal with the 'Chinese military-linked company'. But the two American banks – JPMorgan and Bank of America – are still on the deal. Beijing has denounced the list as 'suppression', while CATL denied engaging 'in any military related activities'. According to Bloomberg, CATL plans to make the deal as a 'Reg S' offering, which doesn't allow sales to US onshore investors, limiting the company's exposure to legal risks in the US.
