CATL (03750) opened nearly 3% higher after its earnings report, rising 2.84% to HKD 543 with a trading volume of HKD 24.108 million as of the time of writing. According to the announcement, in the third quarter of 2025, CATL achieved revenue of approximately RMB 104.186 billion, reflecting a year-on-year growth of 12.9%. The net profit attributable to shareholders of the listed company was approximately RMB 18.549 billion, up 41.21% year-on-year, with a basic earnings per share of RMB 4.10. For the first nine months, the revenue reached approximately RMB 283.072 billion, marking a 9.28% year-on-year increase, while the net profit attributable to shareholders was about RMB 49.034 billion, a 36.2% increase from the previous year, resulting in a basic earnings per share of RMB 11.02. Recently, CATL held a conference call to discuss its Q3 financial results. The company indicated that its shipment volume for the third quarter was approximately 180 GWh, with 80% for power applications and 20% for energy storage, and its domestic and international sales accounted for 70% and 30%, respectively. CATL also mentioned that its market share was slightly impacted by capacity constraints this year, but it expects market share to rebound next year following the release of new production capacity, supported by product competitiveness.