EV battery maker CALB at 13-month high on robust earnings forecast

CALB

24/02/2025 02:54

** Shares of Chinese electric vehicle (EV) battery producer
CALB Group Co Ltd  3931.HK  rise 4% to HK$17.5, their highest
since January 2024, and on course for a fifth consecutive
session of gains
    ** CALB expects to record net profit of 786 million-874
million yuan ($108.4 million-$120.6 million) for 2024, up
80%-100% from a year earlier
    ** Attributes rise to sustained business growth with
improvement in economies of scale, product performance and
consistently lowered costs
    ** CALB to invest $2.09 billion in EV battery factory in
Portugal that is expected to start production in 2028
    ** The Hang Seng Commerce & Industry Index  .HSNC  gains
0.2%, the Hang Seng Tech Index  .HSTECH  climbs 0.4% and the
Hang Seng Index  .HSI  adds 0.5%
    ** Stock up 34.7% YTD  
($1 = 7.2482 Chinese yuan)

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