CALB (03931) shares climbed more than 7% by midday, with the stock last trading up 7.32% at HK$18.63, on turnover of HK$140 million.

In the first half of this year, CALB reported operating revenue of RMB 27.084 billion, a 65% year-on-year increase, while net profit attributable to shareholders jumped 100.7% to RMB 935 million. Breaking down the business segments, revenue from its power battery operations reached RMB 16.506 billion, up 54.8% year-on-year, while revenue from energy storage and other businesses surged 83.8% annually, significantly outpacing the growth of the power battery segment and now accounting for nearly 40% of total revenue.

Separately, recent announcements from several leading automakers have stirred market discussion, as they have broken with the industry convention of the past few years that saw premium new energy vehicles standardly equipped with CATL batteries, with many now declaring partnerships with second-tier battery manufacturers. Notably, CALB held a global power market share of roughly 5.1% in the first half, with continued expansion of major customer collaborations in the passenger vehicle space—steady deliveries are underway for XPeng and Toyota projects, while mass production and supply have commenced for the Xiaomi project.