China's EV battery maker CALB jumps on robust annual results

CALB

29/03/2023 08:34

** Shares of Chinese electric vehicle (EV) batteries
developer and producer CALB Group Co Ltd  3931.HK  jump as much
as 8.9% to HK$20.15, their highest since March 7
    ** Jiangsu-based CALB Group says its 2022 net profit jumped
393.9% to 691.63 mln yuan ($100.38 mln) with revenue surging
198.9% to 20.37 bln yuan 
    ** Company says it will accelerate its internationalization
process and will be in full compliance with local laws and
regulations in Europe to ensure its European industrial base
meets EU's standards and mass production to commence on schedule
    ** Hang Seng Commerce & Industry Index  .HSNC  jumps 2.8%
and Hang Seng Tech Index  .HSTECH  surges 2.6%
    ** Hang Seng Composite Index  .HSCI  climbs 1.4% and Hang
Seng Index  .HSI  rises 1.9%
    

($1 = 6.8903 Chinese yuan renminbi)

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))