Tradingkey - As of press time, CATL's share price closed up 9.8% at 336.0HKD/share. Driven by the positive sentiment from CATL's Hong Kong IPO debut, BYD's Hong Kong stocks rose 4.54% at one point on Wednesday, setting a new record high.

The share prices of CATL and BYD, two major industry giants in the new energy vehicle industry, have hit new highs in Hong Kong recently. This trend may send a positive signal for the development of the upstream and downstream of the industrial chain.

According to the data from the China Association of Automobile Manufacturers, the production and sales of new energy vehicles in April 2025 reached 1.251 million and 1.226 million respectively, with a year-on-year increase of more than 43%; the cumulative production and sales growth rate from January to April exceeded 46% year-on-year, continuing the strong growth trend. The scale of power battery production continues to expand, confirming that the industry is operating at a high level.

It is worth noting that since 2024, capital expenditure in the new energy industry chain has shrunk significantly, and coupled with the capacity regulation of leading enterprises, the supply and demand pattern has gradually improved.

A research report by Caixin Securities pointed out that leading companies such as CATL have further highlighted their competitive advantages in the process of supply clearing due to their technological barriers and customer stickiness.

Huaxin Securities believes that the current price system of the industrial chain is at the historical bottom range, and coupled with the resilience of demand as the global new energy penetration rate accelerates, there is sufficient momentum for price rebound.

As industry adjustments release risks, high-quality new energy companies with global competitiveness have a window for strategic layout.

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