CALB (03931.HK) soared 5.25% during intraday trading on Thursday, marking a significant rebound for the lithium battery manufacturer.
The surge comes as the Hong Kong-listed lithium battery sector staged a broad technical recovery following selling pressure in the prior session. Positive sentiment was bolstered by peer CATL reporting first-quarter earnings that significantly surpassed expectations, strengthening its market dominance and lifting the entire sector.
Furthermore, CALB recently unveiled its "Zhijiu" series of long-cycle energy storage cells at a global summit, featuring models that support 15,000 cycles with zero degradation in the first three years. This product launch underscores the company's strategic push into the energy storage business, providing fundamental support for the share price increase.