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China Threatens Retaliation After Pentagon Adds Alibaba, Baidu, BYD to Military Blacklist
US Markets

China Threatens Retaliation After Pentagon Adds Alibaba, Baidu, BYD to Military Blacklist

China's Ministry of Commerce on Saturday threatened to retaliate after the US Defense Department added a number of Chinese companies, including Alibaba (HKG:9988), Baidu (HKG:9888) and BYD (HKG:1211, SHE:002594), to its list of firms it deems linked with the Chinese military."China will resolutely and forcefully retaliate, and the US will bear full responsibility for the consequences," a spokesperson for the Ministry of Commerce said over the weekend, adding that "China expresses its strong dissatisfaction and firm opposition" to the designations.The Pentagon published its updated Section 1260H list on June 8, which supersedes an earlier version from January 2025. The updated roster now also includes electric-vehicle maker Nio (HKG:9866), pharmaceutical research and manufacturing services provider WuXi AppTec (HKG:2359, SHA:603259), AI robotics company Robosense Technology (HKG:2498), and Unitree Robotics, which is currently pursuing an initial public offering in Shanghai. Nvidia recently said it plans to collaborate with Unitree to build robots.The list also names telcos China Mobile (HKG:0941, SHA:600941), China Telecom (HKG:0728, SHA:601728), and China Unicom (HKG:0762), as well as chipmaker Semiconductor Manufacturing International (HKG:0981, SHA:688981), Huawei Technologies, Contemporary Amperex Technology (SHE:300750, HKG:3750) and Tencent (HKG:0700), most of which were added in January.The June update also reinstated ChangXin Memory Technologies and Yangtze Memory Technologies on the list after they were withdrawn from the February version. Both companies are among China's leading memory chipmakers and are currently pursuing public listings.As the Pentagon noted, being on the list means an entity is identified as a contributor to China's "Military-Civil Fusion strategy," supporting the modernization goals of the People's Liberation Army "by ensuring it can acquire advanced technologies and expertise developed by PRC companies, universities, and research programs that appear to be civilian entities."While these Chinese companies face no formal sanctions under the list, the Pentagon is prohibited from entering into, renewing or extending contracts with them or acquiring their products starting June 30, 2026.Several newly listed companies pushed back, with Alibaba saying it is "not a Chinese military company nor part of any military-civil fusion strategy." The company warned that it will take "all available legal action against attempts to misrepresent the company."Baidu said there was "no justification" for its inclusion, adding that it does not expect the designation to impact its business.BYD, which recently toppled Tesla as the world's top electric vehicle seller, echoed Alibaba and Baidu's statements, adding that the move will not impact its business.Meanwhile, analysts from Jefferies said the update was largely anticipated, noting that an earlier version of the list had briefly appeared in February before being withdrawn without explanation.Jefferies also noted on June 9 that while the Defense Department is prohibited from procurement of goods and services from entities in the list, "it does not restrict US citizens from engaging in trading activity with the listed companies."In a separate Jefferies note on June 9, analysts from the bank said 10 companies were removed from the list, including, most notably, CNOOC (HKG:0883, SHA:600938)."The immediate implication for companies on the 1260H list is that they are prohibited from providing any goods or services to the US military directly or via contractors. We believe the final decision-maker is the US president," said Jefferies."President Trump has just concluded his China trip, and, in our view, the US-China relationship is moving in an incrementally positive direction. In our view, President Trump is largely occupied with Iran, the high oil price (thus higher inflation risk), and the upcoming mid-term election, implying there will be less motivation for the US to escalate geopolitical tension with China."

Shanghai Composite^SZSEHKG:0700HKG:0728HKG:0762HKG:0883HKG:0941HKG:0981HKG:1211HKG:2359HKG:2498HKG:3750HKG:9866HKG:9888HKG:9988SHA:600938SHA:600941SHA:601728SHA:603259SHA:688981SHE:002594SHE:300750
Asia

CATL to Purchase Electrolyte Materials from Yongtai

Contemporary Amperex Technology (SHE:300750) will purchase electrolyte materials from Zhejiang Yongtai Technology (SHE:002326) subsidiary Zhejiang Yongtai New Energy Materials under a cooperation agreement.CATL will purchase 70,000 tons in 2026 with a variance of 10,000 tons, according to a Tuesday filing.The battery giant is set to buy 150,000 tons in 2027 with a variance of 20,000 tons, and 250,000 tons in 2028 with a variance of 40,000 tons.

HKG:3750SHE:002326SHE:300750
Pentagon Accuses Alibaba, Tencent, BYD, CATL of China Military Links
US Markets

Pentagon Accuses Alibaba, Tencent, BYD, CATL of China Military Links

The U.S. added dozens of Chinese companies to a list of firms it says support Beijing's military, a move that could heighten tensions between the world's two largest economies.The Pentagon added several major Chinese technology, electric-vehicle, and battery companies, including Alibaba (HKG:9988), Tencent (HKG:0700), BYD (HKG:1211, SHE:002594), CATL (HKG:3750, SHE:300750), Baidu (HKG:9888), and Nio (HKG:9866), to its list of "Chinese military companies," according to a notice published Monday.The U.S. Department of Defense said the companies were designated under Section 1260H of the National Defense Authorization Act, which requires the Pentagon to identify entities it deems linked to China's military or that support military-civil fusion efforts.The Pentagon briefly published the updated list in February, when President Donald Trump's planned visit to China was still under consideration, before withdrawing it without explanation.It later asked the Federal Register to remove the notice from public inspection and withdraw it from publication, stating: "We would like to remove this notice from public inspection and withdraw the notice from publication," without providing a reason.The list was released less than a month after Trump met Chinese President Xi Jinping in Beijing, where the two leaders discussed trade and technology issues.The updated list also includes Huawei Technologies, DJI, Semiconductor Manufacturing International (HKG:0981, SHA:688981), China Mobile (HKG:0941, SHA:600941), China Telecom (HKG:0728), China Unicom (HKG:0762), Hikvision (SHE:002415), SenseTime (HKG:0020), Unitree Robotics, TP-Link, among others.Also included was WuXi AppTec (HKG:2359, SHA:603259), one of China's largest pharmaceutical research and manufacturing services providers.WuXi AppTec said separately in a statement on Tuesday that its inclusion on the list was "clearly a mistake" and that it would take immediate steps to challenge the designation.The company said it does not meet the statutory criteria for a "Chinese military company" and is not owned, controlled by, or affiliated with any Chinese military or government entity.China's embassy in Washington criticized the designation, saying Beijing opposed "making discriminatory lists to go after Chinese companies.""The U.S. should stop its wrong practice and create a fair, just, and non-discriminatory environment for Chinese companies," an embassy spokesperson said in a statement to Reuters.The spokesperson added that Chinese companies operate in accordance with local laws and regulations.The new list is largely unchanged from the withdrawn February version, except for the addition of memory chipmakers CXMT and YMTC, whose earlier removal had sparked criticism from U.S. lawmakers.Bloomberg News reported earlier that the Pentagon's decision to initially remove YMTC and CXMT prompted the list's swift withdrawal in February.The notice also removed several entities from the previous list, including CNOOC China and CNOOC International Trading, both of which are owned by state-controlled oil producer CNOOC.However, the Pentagon added CNOOC subsidiary China BlueChemical (HKG:3983) to the updated list and said in the filing that CNOOC is directly owned and controlled by China.The notice also removed several entities from the previous list, including Anhui Sun Create Electronics, China International Information Services, China National Chemical Engineering, China Traffic Construction USA, COSCO Shipping Finance, among others.Companies designated under the program may seek reconsideration by submitting information to challenge their inclusion on the list, according to the notice.While the designation carries limited immediate legal consequences, the Pentagon has increasingly used the list to restrict companies' access to U.S. military contracts and research funding.The designation is also viewed by investors as a warning signal that can precede broader U.S. trade, investment, or regulatory restrictions.

HKG:0700HKG:0728HKG:0762HKG:0883HKG:0941HKG:1211HKG:2359HKG:3750HKG:9866HKG:9888HKG:9988SHA:600938SHA:600941SHA:603259SHE:002594SHE:300750
Asia

CATL Invests 4.10 Billion Yuan in Zhongheng Electric Parent; Shares Up 4%

Hangzhou Zhongheng Electric (SHE:002364) said Contemporary Amperex Technology (SHE:300750, HKG:3750) will become the largest shareholder of its controlling shareholder, Hangzhou Zhongheng Technology Investment.CATL will acquire 49% of Zhongheng Technology Investment for a consideration of 4.10 billion yuan through a capital increase, according to a Shenzhen bourse filing on Tuesday.Under the transaction, CATL will subscribe for 14.4 million yuan of newly increased registered capital.Zhongheng Technology Investment's registered capital will rise to 29.4 million yuan from 15 million yuan after the transaction.Shares of the Chinese electrical products developer rose 4% in morning trading.

HKG:3750SHE:002364SHE:300750
Asia

Market Chatter: Tencent, CATL Among Investors in DeepSeek's Debut Funding Round

Sources said DeepSeek counts Tencent (HKG:0700) and Contemporary Amperex Technology (SHE:300750, HKG:3750), or CATL, as investors in its debut external funding round, Reuters reported Wednesday.The Chinese artificial intelligence startup is set to raise 50 billion yuan, which could value DeepSeek between 350 billion and 400 billion yuan, according to the report.The fundraising breaks from founder Liang Wenfeng's previous strategy of relying solely on his quant hedge ​fund High-Flyer to back operations, Reuters wrote.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Shanghai Composite^SZSEHKG:0700HKG:3750SHE:300750
Asia

Market Chatter: DeepSeek to Raise 50 Billion Yuan in Pilot Funding Round

DeepSeek seeks to raise about 50 billion yuan in its first funding round, potentially valuing the Chinese artificial intelligence startup between 350 billion yuan and 400 billion yuan, Reuters reported Wednesday, citing sources.Tencent (HKG:0700) and Contemporary Amperex Technology (SHE:300750, HKG:3750) are expected to become the biggest investors in the fundraising as they are considering injecting 10 billion yuan and 5 billion yuan, respectively, the report said.The AI firm is in discussions with China's national artificial intelligence fund, as well as NetEase (HKG:9999) and JD.com (HKG:9618), to participate in the fundraising, according to Reuters.DeepSeek's founder, Liang Wenfeng, pledged to inject 20 billion yuan into the startup, sources reportedly told the media outlet.DeepSeek, Tencent and CATL are yet to respond to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Shanghai Composite^SZSEHKG:0700HKG:3750HKG:9618HKG:9999SHE:300750
Asia

CATL Launches 3 Billion Yuan Research Facility in Xiamen, China

Contemporary Amperex Technology (SHE:300750, HKG:3750) launched the operations of its 3 billion yuan research facility in the southeastern Chinese city of Xiamen, it said in a Thursday press release.The Xiamen Energy Storage Validation Research Institute is the world's largest one-stop testing and validating platform for the sector, according to the battery giant.It allows full-system energy storage containers to undergo testing under extreme environments, CATL said.The world's largest battery maker could use the energy storage validation facility to increase industry quality standards, Chief Scientist Wu Kai said.

HKG:3750SHE:300750
Chipmaker CXMT Wins Approval for China's Largest IPO Since 2022
US Markets

Chipmaker CXMT Wins Approval for China's Largest IPO Since 2022

ChangXin Memory Technologies has received approval from the Shanghai Stock Exchange to proceed with an initial public offering, targeting 29.5 billion yuan in proceeds, which would make it the largest IPO in China in four years.The Shanghai bourse's Listing Review Committee on Wednesday noted that CXMT "meets the issuance conditions, listing conditions, and information disclosure requirements" for an IPO.The chipmaker plans to list 10.6 billion shares on the STAR Market board, accounting for at least 10% of its share capital post-issuance.CXMT has agreed to grant underwriters an overallotment option to issue up to an additional 15% of the shares in the offering.China International Capital Corporation and CITIC Securities are serving as lead underwriters.Based on its IPO target size, the deal would mark the largest in China since CNOOC's (SHA:600938, HKG:0883) 32.3 billion yuan Shanghai IPO in 2022. It would also be the biggest in Asia since Contemporary Amperex Technology or CATL's (SHE:300750, HKG:3750) HK$41 billion Hong Kong IPO last year.CXMT describes itself as the world's fourth-largest supplier of dynamic random access memory (DRAM). The company competes with South Korea's Samsung Electronics (KRX:005930) and SK Hynix (KRX:000660), and US-based Micron Technology. They collectively control 90% of the DRAM market, according to The Wall Street Journal.DRAM is a chip that serves as a key component for processors, including those used for artificial intelligence models.The company supplies its products to domestic clients like Alibaba Holdings (HKG:9988), ByteDance, Tencent Holdings (HKG:0700) and Xiaomi (HKG:1810).Of the total proceeds, CXMT plans to use 13 billion yuan to upgrade its DRAM technology, 9 billion yuan for DRAM research and development, and 7.5 billion yuan to upgrade its production line."After years of development, the company has broken through key core technologies in DRAM and successfully achieved independent R&D, design, and commercial mass production of its products, filling a long-standing gap in the global market for DRAM products from mainland China," according to a translated text of CXMT's IPO prospectus.The IPO comes as CXMT continues to bank on the strong global demand for chips amid the AI boom. For the first quarter ended March 31, CXMT swung to an attributable net profit of 24.8 billion yuan from an attributable net loss of 1.56 billion yuan a year earlier. Revenue surged 719% to 50.8 billion yuan from 6.2 billion yuan.The company expects to book up to 57 billion yuan in attributable profit for the first half of 2026, versus an attributable net loss of 2.33 billion yuan a year prior. Revenue is forecast to jump by up to 677% from a year earlier to up to 120 billion yuan.Ao Fei, managing director at Beijing Xinhan Capital, told Bloomberg that CXMT's "position in the industry and its strategic importance to the nation speaks for itself.""CXMT is the reason China has been able to get a foothold in DRAM, arguably the most critical memory segment powering the AI revolution.""This is a national champion that has catalyzed China's entire semiconductor supply chain, serves as a training ground for the next generation of talent, and has elevated the industry to a new frontier," Ao reportedly said."You could argue that ChangXin today occupies the same pivotal position that CATL held at the time of its listing."Meanwhile, Dong Shaopeng, a senior research fellow at the Chongyang Institute for Financial Studies, Renmin University of China, told China's Global Times that the Shanghai bourse's approval of CXMT's listing follows the outcome of policy guidance, industrial efforts and coordinated support from the financial system."Against this backdrop, continued breakthroughs in China's semiconductor industry could bring structural adjustments to the global chip market landscape," Dong was quoted by the Global Times as saying.CXMT's Shanghai IPO also comes amid an influx of new listings in mainland China and Hong Kong. Total funds raised from A-share IPOs in the first quarter of 2026 rose 8% year over year to 27.4 billion yuan, according to data from KPMG.

Shanghai CompositeHKG:0700HKG:0883HKG:1810HKG:3750HKG:9988KRX:000660KRX:005930SHA:600938SHE:300750
Asia

Shandong Hi-Speed to Exit VNET Investment; Shares Fall 11%

Shares of Shandong Hi-Speed Holdings Group (HKG:0412) fell 11% Friday after the company said it was exiting its investment in Nasdaq-listed VNET Group, according to a Hong Kong filing on Thursday.Shandong Hi-Speed will sell its entire equity stake in VNET for $942.2 million to companies linked to battery giant Contemporary Amperex Technology (SHE:300750, HKG:3750).The company holds 650.4 million class A shares of VNET, representing 38.78% of the data center provider's total A shares.Shandong Hi-Speed said it will use proceeds from the sale to repay its debt.

HKG:0412HKG:3750SHE:300750
Asia

Market Chatter: Reliance Industries In Talks with CATL, Other Companies, for Battery Components

Reliance Industries (BOM:500325, NSE:RELIANCE) is in talks with battery giant Contemporary Amperex Technology (SHE:300750, HKG:3750) and other suppliers to purchase battery energy storage system parts, Bloomberg reported Tuesday, citing people familiar with the matter.The Indian giant's move could help it obtain a second major source of battery parts for its upcoming factory in Jamnagar, Gujarat, India, the report said, citing the sources.That source will beef up supplies from Xiamen Hithium Energy Storage Technology, Bloomberg said.Reliance has faced roadblocks in obtaining technological know-how to produce lithium-ion battery cells, pushing the company to rely on packaging pre-manufactured battery cells into big ones amid Beijing's export controls on battery technology, Bloomberg said.Reliance and CATL did not immediately respond to requests for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

BOM:500325HKG:3750NSE:RELIANCESHE:300750
Trump-Xi Summit Caps Off With $51B Agricultural Commitment, 200 Boeing Jet Order
US Markets

Trump-Xi Summit Caps Off With $51B Agricultural Commitment, 200 Boeing Jet Order

China has agreed to purchase U.S. agricultural goods worth $17 billion per year from 2026 to 2028 as part of agreements brokered during President Donald Trump's visit to Beijing last week, the White House said in a fact sheet published Sunday.Trump wrapped up his two-day meeting with Chinese President Xi Jinping on Friday, extending an invitation for Xi to visit Washington in September.The new agricultural commitments, which will total roughly $51 billion over the next three years, build on China's October 2025 pledge to purchase at least 25 million metric tons of U.S. soybeans. Additional agreements include restoring market access for U.S. beef facilities by renewing licenses that had lapsed during the 2025 tariff retaliations.Asifr from agriculture, Beijing also committed to purchasing 200 U.S.-made Boeing aircraft.China also pledged to address supply chain constraints and restrictions surrounding rare earths and critical minerals such as yttrium, scandium, neodymium, and indium. However, specific implementation details were not disclosed.Following the summit, China's Ministry of Commerce said "both sides should continue to implement the results of previous consultations and reach a positive consensus on relevant tariff arrangements."Financial markets reacted coolly to the summit. Lynn Song, ING's chief economist for Greater China, said, "Many market participants were left rather underwhelmed after the much-hyped Trump visit to China concluded, with equities and the CNY both softening on Friday as the summit ended without any major surprises."Despite initial optimism surrounding the last-minute inclusion of Nvidia CEO Jensen Huang in the U.S. business delegation, the summit produced no concrete breakthroughs on artificial intelligence chip exports."The lack of any concrete announcements at the end of Trump's China trip would likely cause a selloff in China AI stocks," analysts from Jefferies said in a note to clients. "This trip likely laid the groundwork for deals to take place in the next three to six months, especially as Xi is visiting the U.S. in September."To stabilize bilateral trading relations, the two nations plan to establish a "Board of Trade." According to the White House, the body will oversee "bilateral trade across non-sensitive goods" and serve as a "government-to-government forum for discussing investment-related issues."However, Jefferies noted that the Board of Trade is unlikely to lift the U.S. investment ban against certain Chinese companies. Instead, it will "govern less sensitive investment issues," such as Contemporary Amperex Technology or CATL's (SHE:300750, HKG:3750) plan to build a battery plant in the U.S.Commenting on the Board of Trade mechanism, the Commerce Ministry said: "The two sides will discuss issues such as tariff reductions on relevant products through the Trade Council and have agreed in principle to reduce tariffs on products of equal size of concern to each other."Equities in Shanghai and Shenzhen opened lower on Monday as post-summit momentum faded amid unmet expectations for a breakthrough."We believe the Trump-Xi summit is broadly neutral for HK/China stocks, with the outcome representing a stabilization of relations rather than any transformational change," analysts at Nomura said.Economists at Bank of America said in a Friday note that the bilateral meetings underscored a mutual "commitment to step up communications" rather than delivering tangible breakthroughs.On the geopolitical front, however, the White House reported that both sides affirmed shared stances on several security positions, including opposition to Iran's nuclear program, the reopening of the Strait of Hormuz, and the denuclearization of North Korea.

Shanghai Composite^SZSEHKG:3750SHE:300750
International

Chinese AI Stocks' Selloff Likely After US-China Meet Did Not Produce Concrete Deals, Jefferies Says

Investors might selloff Chinese artificial intelligence equities as the U.S. and China have not finalized any concrete deals during President Donald Trump's two-day visit to Beijing, especially on the importation of chips, Jefferies said in a research note on Monday.Jefferies said there was hype over Nvidia Chief Executive Officer Jensen Huang being included in Trump's delegates in a last-minute decision, as talks could involve semiconductor exports to China. However, the trip only laid the groundwork for actual deals that would be formulated in the next three to six months, according to the note.China agreed to the purchase of certain U.S. products, which could only be a part of the deals, Jefferies said.China pledged to buy 200 Boeing airplanes, $17 billion worth of U.S. agricultural products until 2028, and the purchase of U.S. beef and poultry products.Jefferies also said that the Board of Trade that the U.S. and China would establish will only tackle less sensitive investment issues, such as Contemporary Amperex Technology's (SHE:300750, HKG:3750) potential investment to construct a U.S. battery plant, but not lifting the U.S. investment ban on some Chinese companies.

Shanghai Composite^SZSEHKG:3750SHE:300750
Asia

CATL-Linked Companies to Buy VNET Shares from Shandong Hi-Speed Affiliates

Companies linked to battery giant Contemporary Amperex Technology (SHE:300750, HKG:3750) are looking to purchase a 38.1% stake in Chinese data center operator VNET for up to $942.2 million, according to a Wednesday press release.Units of PJ Millennium LP, whose partner Lochpine BG I is an affiliate of CATL, will purchase 650.4 million class A ordinary shares at $1.4486 apiece from Success Flow International Investment and Choice Faith Group Holdings.Both Success Flow and Choice Faith are beneficially owned by Shandong Hi-Speed Holdings (HKG:0412).Nasdaq-listed VNET operates across 30 cities in China with 7,000 customers.

HKG:0412HKG:3750SHE:300750
Asia

CATL to Develop Chassis Platform for Turkey's Togg

Contemporary Amperex Technology's (HKG:3750, SHE:300750) skateboard chassis arm partnered with Togg for the development of a chassis platform for the Turkish automotive brand, the battery maker said in a Thursday press release.CATL, through its unit Contemporary Amperex Intelligent Technology (Shanghai), will produce the chassis platform through its Bedrock Chassis technology for three models in Togg's B-segment vehicle family.The first model under the partnership is expected to start mass production in 2027.

HKG:3750SHE:300750
Asia

Market Chatter: China Overtakes Japan in Perovskite Solar Patent Race

China overtook Japan in total perovskite solar cell patent applications filed globally, based on the latest patent landscape analysis, Nikkei Asia reported Tuesday.About 2,000 applications were public, with China leading valid filings as of 2023, according to the report. This ended Japan's lead from 2015 to 2022.CATL (HKG:3750, SHE:300750) topped company rankings in 2025, followed by Panasonic (TYO:6752), Nikkei Asia wrote.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Nikkei 225Shanghai Composite^SZSEHKG:3750SHE:300750TYO:6752
Asia

CATL Raises Over HK$39 Billion from Share Placement

Contemporary Amperex Technology (HKG:3750, SHE:300750) or CATL completed the allotment and issue of 62.4 million new Hong Kong-listed shares to at least six investors at HK$628.20 apiece to raise net proceeds of HK$39.1 billion, according to a Thursday Hong Kong bourse filing.The shares represent roughly 29% of the battery maker's enlarged issued share capital.

HKG:3750SHE:300750
Asia

CATL to Raise HK$39 Billion via Share Placement

Contemporary Amperex Technology (HKG:3750, SHE:300750) or CATL agreed to place 62.4 million new Hong Kong shares at HK$628.20 each, raising net proceeds of about HK$39.1 billion, according to a Tuesday bourse filing.The placing price represents a discount of about 7% to the last closing price and about 10.5% to the five-day average.The new shares account for about 1.38% of the company's existing issued share capital.The battery maker plans to use the proceeds to fund global new energy projects, expand its zero-carbon business, support research and development, and for general corporate purposes.CATL expects to place the shares with at least six professional and institutional investors under its general mandate, with no shareholder approval required.

HKG:3750SHE:300750
Asia

Market Chatter: CATL Flags Oil Price Gains as Tailwind for Battery Demand

Contemporary Amperex Technology (SHE:300750, HKG:3750), or CATL, said higher oil prices are creating a more supportive backdrop for energy storage systems and electric vehicle batteries, The Standard reported, citing Reuters.The battery maker's chief technology officer, Gao Huan, reportedly said at a Beijing autoshow roundtable on Wednesday that the company is enhancing its manufacturing capabilities to enable large-scale global supply of high-quality products.He said CATL is also increasing production capacity to meet rising worldwide demand for batteries, the report added.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

HKG:3750SHE:300750
Asia

Market Chatter: Sinopec Unit Disposes of Stake in CATL

A subsidiary of China Petroleum & Chemical (HKG:0386, SHA:600028) or Sinopec offloaded 5.5% of its stake in Contemporary Amperex Technology's (SHE:300750, HKG:3750) or CATL for $770 million, Reuters reported Wednesday, citing a term sheet.About 8.5 million CATL shares were sold for HK$708 per share, a 3.8% discount from the battery manufacturer's closing price on Tuesday, the report said.Previously, Sinopec (Hong Kong) owned 9.45% of CATL, according to the media outlet, citing data from the LSEG.Sinopec and CATL did not immediately respond to Reuter's request for comment, the report said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

HKG:0386HKG:3750SHA:600028SHE:300750
Asia

Market Chatter: CATL Market Cap Surpasses PetroChina

Contemporary Amperex Technology's (SHE:300750, HKG:3750) market value surpassed that of PetroChina (HKG:0857, SHA:601857) at one point as investors bet more on the battery maker due to the war in Iran, Bloomberg News reported Thursday.The change comes as the world's largest battery maker announced plans to expand in the critical minerals sector.CATL is now China's third-largest onshore stock, according to the report.Toward the end of 2025, PetroChina's market value surged over CATL as oil prices surged on the start of the war, the report said.The oil producer's value slipped amid talks of a truce between the U.S. and Iran, Bloomberg said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

HKG:0857HKG:3750SHA:601857SHE:300750

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