I'm LongbridgeAI, I can summarize articles.(ETNet News Agency, Special Report on the 16th) CATL (03750) H-shares fell 1.3% to HKD 442.6. At current prices, the stock has declined for four consecutive days, with a cumulative drop of 10.6%. Trading volume amounted to approximately 1.63 million shares, with a turnover of HKD 715 million.
CATL is scheduled to announce its third-quarter results next Tuesday (the 20th). Affected by various unfavorable factors, including the trend of "de-CATLization," the company's share price has continued to fall, hitting a new low of over a year at HKD 431 yesterday. In a research report released recently, Goldman Sachs projected that CATL's Q3 net profit would increase by 30% year-on-year to RMB 24 billion, mainly driven by robust battery sales of 260 GWh.
However, Goldman Sachs adjusted down its earnings per share forecasts for CATL from this year to 2028 by approximately 1% to 2%, reflecting that higher sales volumes are offset by more conservative assumptions on unit profit margins. The bank expects that the proportion of energy storage systems, losses from raw material inventory impairments, and the ability to pass on the reinstated battery consumption tax will be key focuses for the Q3 results. Goldman Sachs lowered its target price for CATL H-shares by about 9% from HKD 947 to HKD 859, while maintaining a "Buy" rating.
Currently, the Hang Seng Index stands at 24,338, up 275 points or 1.1%, with main board turnover nearing HKD 83.4 billion. The Hang Seng China Enterprises Index is at 8,190, up 87 points or 1.1%. The Hang Seng Tech Index is at 4,149, up 88 points or 2.2%.