CATL Surges to Overtake Moutai as China’s Third Largest Stock
Tiger Newspress
Sep 25
CATL overtook liquor maker Kweichow Moutai to become China’s third largest locally listed stock by market value as strong outlook for battery demand boosted investor sentiment.
The Shenzhen-listed battery giant gained as much as 6% Thursday to a record high, pushing the company’s market capitalization to 1.83 trillion yuan ($257 billion), surpassing Moutai’s 1.8 trillion yuan valuation.
Shares of the world’s biggest battery maker have surged 30% onshore this month, thanks to hopes that its dominant position in the rapidly expanding energy storage battery system, or ESS space, will lead to future profits.
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