Contemporary Amperex Technology Co Ltd Class H stock rose 6.7% to HK$361.6 on Investing.com's report. The move followed battery shipment data compiled by South Korean market research firm SNE Research.
According to SNE Research, global electric vehicle battery installations reached a monthly record of 145.1 gigawatt hours in September. CATL held the largest market share, followed by BYD.
The report says the rally extended beyond CATL. Other Hong Kong-listed lithium battery stocks moved higher in tandem. The Hang Seng Index advanced about 0.6% at the midday close.
The report also says that despite a recent slowdown in EV demand, CATL remained the world's dominant battery supplier. It notes that CATL supplies EV manufacturers, including Tesla.
This article was generated with the support of AI and reviewed by an editor.