CATL announces plans for public listing on Stock Exchange of Hong Kong

Shanghai (Gasgoo)- On December 26, Contemporary Amperex Technology Co., Limited ("CATL") announced its intention to issue overseas-listed foreign shares (H-shares) and apply for listing on the Main Board of the Stock Exchange of Hong Kong Limited ("SEHK"). The H-share issuance will be conducted globally.

According to the announcement, CATL plans this H-share issuance to further advance its global strategic layout, establish an international capital operation platform, and enhance its overall competitiveness.

The issuance will be carried out through a combination of a public offering in Hong Kong and an international placement of new shares. Eligible investors include institutional investors, enterprises, and individuals outside the Chinese Mainland (including some foreign countries and China's Hong Kong, Macao, and Taiwan) as well as qualified domestic institutional investors and other investors meeting regulatory requirements.

In terms of issuance scale, CATL stated that the number of H-shares issued will not exceed 5% of the company's total share capital post-issuance (excluding shares issued through the overallotment option). Additionally, an overallotment option of up to 15% of the issued H-shares will be granted to the global coordinators. This is subject to the minimum issuance and float ratio requirements of the SEHK or exemptions thereof.

CATL emphasized that it would carefully consider the interests of existing shareholders and the conditions of domestic and international capital markets. The company plans to complete the issuance and listing during the valid period of the shareholder meeting resolution, which is 18 months from approval or any extended period agreed upon.

As the next step, CATL's board of directors has resolved to convene the first extraordinary general meeting of 2025 on January 17, 2025.

CATL's latest quarterly financial report revealed that the company achieved a total revenue of 259.045 billion yuan in the first three quarters of 2024, marking a 12.09% year-on-year decline. However, its net profit attributable to shareholders rose by 15.59% from the previous year to 36.001 billion yuan during the same period.