Movement Alert|CATL Falls 3.03% in Regular Trading, BlackRock Reduces Stake as Automakers Accelerate Supply Diversification

Market Focus
09/11

On September 11, CATL fell 3.03% in regular trading, trading at 544.5 HKD/share, with turnover of approximately 207 million HKD.

On the news front, Hong Kong Exchange filings revealed that BlackRock reduced its long position in CATL H-shares from 6.07% to 5.85% on September 4, selling approximately 493,500 shares at an average price of around 570.14 HKD per share, sending a clear signal of international capital exiting at elevated levels. Meanwhile, the company's previously announced 20-40 billion yuan A-share buyback program, approved by shareholders on August 12, has yet to see any execution as of August 31, with continued inaction eroding investor confidence.

Adding to the pressure, automakers are progressively pursuing battery supply diversification. Li Auto recently announced the rollout of its self-developed battery system across all models, while GAC, Dongfeng, and Geely have also invested in proprietary battery development, with some already achieving mass production capability. However, Morgan Stanley noted that switching costs away from CATL remain high, with the company's brand recognition among consumers significantly stronger than five years ago. Since its May intraday high, CATL's A-share price has retreated approximately 27%, with total market capitalization declining by roughly 600 billion yuan.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

免責聲明:投資有風險,本文並非投資建議,以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請,作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考,不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證,投資者應自行研究並在投資前尋求專業建議。

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