HONG KONG, March 29, 2026, 18:24 HKT
As of March 27, mainland investors owned 5.82 million shares—3.72% of the total issued—in Contemporary Amperex Technology Co., Limited’s Hong Kong listing, according to official exchange numbers. Shares finished Friday at HK$634, a 2.9% gain. That’s still roughly 9% under the March 20 peak at HK$698.
Fresh holding data land just as a pronounced gap has emerged between CATL’s Hong Kong and Shenzhen shares. As of March 20, Bloomberg noted, the Hong Kong stock was up roughly 39% since the March 9 earnings beat, compared to a 16% rise in Shenzhen. That divergence sent the premium to an all-time high of 48%.
The Hong Kong line was added to the Hang Seng Index on March 9, opening it up to more flows from passive and index-tracking funds. Mainland connection is also key here. Southbound Stock Connect—the cross-border channel—enables qualified mainland buyers to pick up eligible Hong Kong shares.
Earlier this month, investors saw a hefty profit jump. Fourth-quarter net profit climbed 57.1% to 23.17 billion yuan ($3.35 billion), topping what analysts had expected. Company filings show 2025 revenue landed at 423.7 billion yuan, with net profit at 72.2 billion yuan.
CATL maintained its lead on BYD, reporting a 39% jump in lithium-ion battery sales to 661 gigawatt-hours for 2025. Its global power-battery market share climbed to 39.2%. BYD, on the other hand, saw its share dip to 16.4% from 16.9%, according to Reuters citing SNE Research.
Energy storage rounds out the picture. According to Reuters, CATL claimed a steady 30% share of the worldwide lithium-ion battery market for storage systems last year, even as its shipments soared 80%. That segment accounted for 14.7% of total group revenue.
Broader market forces have played a role. CATL jumped 15% in March, Reuters reported on March 24, as capital flowed into Chinese renewable and battery names. Aaron Costello, Asia head at Cambridge Associates, told the outlet that the focus for countries is shifting to “energy security.” And Yuan Yuwei of Trinity Synergy Investments added that the oil shock might prompt buyers to “have a second thought on gas-powered cars.” Reuters
The story isn’t all up. Reuters reported that CATL saw its gross margins tighten last year in both EV and storage battery segments. BYD is turning up the heat, too, with a new fast-charging battery and a push to build out 20,000 charging stations by the end of 2026, ratcheting up the competition in a market already contending with aggressive pricing.
External politics still cloud the picture. CATL’s licensing partnership with Ford has triggered fresh U.S. scrutiny, just as the Chinese battery giant ramps up in Europe and Asia. Citi, in a March 9 note, flagged that production at CATL’s Jianxiawo lithium mine could restart in June.
CATL pulled in $4.6 billion with its Hong Kong debut back in May 2025, with shares ending that first session 16.4% higher than the offer price. The stock closed Friday still over twice its HK$263 listing price.
