CATL (03750) jumped over 7% in early trading, while the company's A-shares soared more than 12%. At midday, the stock closed up 7.12% at HK$436.20, with turnover reaching HK$1.871 billion.

UBS raised CATL's H-share target price by 27%, from HK$390 to HK$495, while maintaining a "buy" rating. CATL's H-shares have gained 57% since their listing in May this year and currently trade at approximately a 31% premium to A-shares. Based on the firm's unchanged earnings and fundamental forecasts for the company, and analyzing the potential for further H-share valuation increases, as well as referencing broad valuations of technology and energy peers, UBS upgraded the target price, reflecting a predicted 25% premium relative to A-shares.

UBS also noted that conversations with global and domestic investors indicate that global investors are more bullish on CATL than domestic investors, recognizing its global leadership position in battery technology and the growth trend of its market share in Europe.