CATL's stock price surged 6.99% during pre-market trading on Wednesday, indicating strong investor optimism ahead of the regular session.

The significant movement follows the company's recent announcement of strategic agreements with the Xiamen municipal government to establish a high-performance battery production base that integrates cell, module, and PACK manufacturing for both electric vehicle and energy storage applications. Furthermore, CATL has redirected A-share IPO proceeds originally allocated for its Guangdong Ruiqing project toward this new industrial base in Xiamen, highlighting a strategic shift in its capital allocation and expansion plans.

Adding to the positive sentiment, industry data confirms CATL's dominant position in the global energy storage battery market, where it has ranked first in shipments for five consecutive years. The company's energy storage revenue reached RMB 62.44 billion, accounting for a significant portion of its total revenue, amidst a rapidly growing global energy storage market where Chinese players hold a commanding share.