The Economic Information Daily reported on the 16th that CATL (03750) H-shares are currently down 1.3%, trading at HK$442.6. At current prices, the stock has declined for four consecutive days, accumulating a drop of 10.6%. The stock's turnover amounted to approximately 1.63 million shares, involving HK$715 million.
CATL will announce its third-quarter results next Tuesday (20th). Affected by multiple negative factors including "de-CATLization", the company's share price has continued to fall, hitting a new low of HK$431 yesterday—the lowest level in over a year. Goldman Sachs recently published a research report forecasting that CATL's net profit for the third quarter will increase by 30% year-on-year to RMB 24 billion, primarily driven by strong battery sales volume of 260GWh.
However, Goldman Sachs lowered its earnings per share forecasts for CATL from this year through 2028 by about 1 to 2%, reflecting higher sales volumes offset by more conservative assumptions on unit profit margins. The firm expects the proportion of energy storage systems, raw material inventory impairment losses, and the ability to pass on the reinstated battery consumption tax to be key focuses of the third-quarter results. Goldman Sachs reduced its target price for CATL's H-shares from HK$947 to HK$859, a cut of about 9%, while maintaining a "Buy" rating.
Currently, the Hang Seng Index stands at 24,338, up 275 points or 1.1%, with turnover on the main board nearing HK$83.4 billion. The Hang Seng China Enterprises Index is at 8,190, up 87 points or 1.1%. The Hang Seng Tech Index is at 4,149, up 88 points or 2.2%. (hc)
CATL will announce its third-quarter results next Tuesday (20th). Affected by multiple negative factors including "de-CATLization", the company's share price has continued to fall, hitting a new low of HK$431 yesterday—the lowest level in over a year. Goldman Sachs recently published a research report forecasting that CATL's net profit for the third quarter will increase by 30% year-on-year to RMB 24 billion, primarily driven by strong battery sales volume of 260GWh.
However, Goldman Sachs lowered its earnings per share forecasts for CATL from this year through 2028 by about 1 to 2%, reflecting higher sales volumes offset by more conservative assumptions on unit profit margins. The firm expects the proportion of energy storage systems, raw material inventory impairment losses, and the ability to pass on the reinstated battery consumption tax to be key focuses of the third-quarter results. Goldman Sachs reduced its target price for CATL's H-shares from HK$947 to HK$859, a cut of about 9%, while maintaining a "Buy" rating.
Currently, the Hang Seng Index stands at 24,338, up 275 points or 1.1%, with turnover on the main board nearing HK$83.4 billion. The Hang Seng China Enterprises Index is at 8,190, up 87 points or 1.1%. The Hang Seng Tech Index is at 4,149, up 88 points or 2.2%. (hc)
