CATL (03750) rose more than 4% during the session. At the time of writing, the stock was up 2.30%, trading at HK$688.50, with a turnover of HK$2.051 billion.

Ford Motor announced the establishment of a new subsidiary, Ford Energy, to enter the battery energy storage system market. Ford Energy's annual production capacity target is over 20 GWh, with target customers including utility companies, large data centers, and industrial and commercial users. The first product deliveries are planned to begin by the end of 2027. According to the plan, the company will retrofit its existing manufacturing facility in Kentucky to produce lithium iron phosphate batteries. It is reported that the technology is licensed from CATL.

Bank of Communications International released a research report stating that, thanks to strong downstream demand and the implementation of price increases, upstream material companies (including lithium mines, lithium iron phosphate cathodes, electrolytes, separators, and solvents) have seen significant profit improvement. In the first quarter, the overall revenue of the battery sector increased by 47% year-on-year, while net profit grew by 83%. Among these, lithium battery revenue and net profit rose by 48% and 49%, respectively, while battery chemical revenue and net profit increased by 58% and 379%, respectively. Starting April 1, 2026, the export tax rebate rate for batteries will be reduced from 9% to 6%. The bank believes this will help accelerate the elimination of outdated production capacity in the medium to long term, and industry concentration is expected to further increase. Regarding individual stocks, the report recommends focusing on the industry leader, Contemporary Amperex Technology Co., Ltd. (300750.SZ/Buy), which possesses cost advantages, technological barriers, and a leading overseas presence.