CATL achieves market valuation of RMB 153.2 bn after 8-day shares limit-up

Shanghai (Gasgoo)- On June 21, world-leading battery maker Contemporary Amperex Technology (CATL) experienced its shares limit-up for eight consecutive days after it made trading debut on Shenzhen's stock exchange on June 11, valuing the company at RMB 153.2 billion, which far outran the market valuation of China's leading new energy vehicle(NEV) maker BYD. CATL'S stock price per share reached RMB 70.54 by far. 

Shen Jianguo, an NEV industry analyst from Founder Security said that CATL boasts industry-leading management team, technological inheritance, R&D, as well as domestic and global partners. Besides, the battery maker not only has competitive advantages in technologies, but also owns lower costs.

It experienced remarkable sales growth during the past several years. In 2014, CATL's battery shipments only reached 0.273GWh. During 2015 and 2016, the company's battery shipments soared to 2.43GWh and 6.8GWh respectively. With battery shipments hitting 11.84GWh in 2017, CATL has grown into the world's largest manufacturer of EV batteries, taking up 27% shares of the Chinese EV battery market. CATL's current customers include Daimler, Volkswagen, BMW and Nissan as well as a number of Chinese automobile companies such as Geely, SAIC Motor, Dongfeng Motor and Changan Automobile.

On June 18, CATL signed a contract on a large energy storage project of lithium battery with Fujian Investment & Development Group Co., Ltd. (hereinafter referred to as Fujian Investment). The project will roll into Jinjiang, Fujian Province. Involving RMB 2.4 billion investments, the project is planned to be built into three phases. The first phase will build a 100MWh lithium battery storage facility. The scales of lithium battery storage facility for the second and third phase will be expanded to 500MWh and 1,000MWh respectively. At the same time, the supporting mobile storage facility and mobile charging facility will be also provided.