On July 27, CATL rose 3.94% in regular trading, trading at 626.0 HKD/share, with turnover of HKD 365 million. The rally was driven by the company's robust first-half earnings and a landmark share buyback announcement.
On July 24, CATL reported H1 revenue of RMB 276.9 billion, up 54.80% year-over-year, with net profit attributable to shareholders reaching RMB 43.28 billion, up 41.98% YoY — equivalent to approximately RMB 240 million in daily earnings. Simultaneously, the company unveiled a buyback plan of RMB 20-40 billion for share cancellation, setting the largest single buyback record in A-share history, with a price cap of RMB 573 per share. The buyback is to be completed within 12 months of shareholder approval.
Additionally, CATL declared an interim dividend of RMB 14.11 per 10 shares, totaling approximately RMB 6.49 billion. Management stated the buyback reflects confidence in long-term prospects and aims to address potential undervaluation amid market volatility. Macquarie previously raised its target price to HKD 700, maintaining an Outperform rating.
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