Citi stated that CATL's first-quarter net profit grew by 49% year-on-year, meeting the bank's expectations but slightly exceeding market expectations, leading to anticipated upward revisions in consensus estimates. The bank noted that CATL's robust electric vehicle battery sales were driven by an increase in market share, higher battery capacity per vehicle, strong sales of commercial electric vehicles, and restocking demand from original equipment manufacturers (OEMs). Citi maintains CATL as its top pick and keeps the A-share target price at 576 yuan.