CATL Plans Hong Kong Listing

BEIJING (Reuters) – Chinese battery manufacturer CATL announced on Thursday its intention to seek a listing in Hong Kong, as indicated by a filing with the Shenzhen Stock Exchange.

CATL aims to issue offshore H-shares and apply for a listing on the main board of the Hong Kong Stock Exchange, according to the filing.

The company's board has approved the plan, but it still needs regulatory approval from agencies including the China Securities Regulatory Commission.

Further details regarding the plan are yet to be finalized.

This move is intended to "further promote the company's global strategic layout" and enhance its competitiveness.

As the world’s leading battery producer, CATL holds a significant market share of approximately 37% in electric vehicle batteries, based on data from battery market tracker SNE Research.

Despite facing ongoing price wars in China’s EV sector, CATL has reported increased profit growth in the third quarter.