Contemporary Amperex Technology Co. Ltd. became China’s third-largest locally listed company by market value on September 25, overtaking Kweichow Moutai Co.

CATL, a Shenzhen-listed battery manufacturer, shares rose up to 6% to a record high, giving the company a market capitalization of 1.8 trillion yuan (US$257 billion), based on Bloomberg data.

Kweichow Moutai, a major Chinese liquor producer, had a market value of 1.8 trillion yuan.

Analysts cited strong demand forecasts for batteries and a shift by some investors from EV stocks to battery stocks as factors supporting CATL’s gains.

CATL’s shares have risen 30% onshore this month amid optimism about its role in the expanding energy storage battery system sector.

🔗 Source: Bloomberg

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