CATL (03750.HK)  -0.600 (-0.195%)    Short selling $395.87M; Ratio 43.278%   H-shares debuted yesterday (20th), finishing the day at HKD306.2, up 16.4% from the listing price of HKD263. This morning (21st), the stock price drifted higher, last printing at HKD331.4, up 8.2%, with a turnover of HKD2.675 billion. CATL’s A-shares (300750.SZ)  -0.100 (-0.040%)   last stood at RMB274.4, up 4.3%.

CLSA published a report yesterday, listing the valuation forecast comparison between CATL A shares and its peers based on the closing price on Monday (19th):

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Chinese and Asian battery manufacturers
Shares│2026E P/E│2026E EV/EBITDA│2026E ROE
CATL (300750.SZ)  -0.100 (-0.040%)   A shares │14.6 x │ 7.6 x │ 23.5%
BYD COMPANY (01211.HK)  +5.600 (+1.398%)    Short selling $1.85B; Ratio 32.699%   H shares │18.2 x │6.5 x │23.6%
BYD (002594.SZ)  +4.520 (+1.270%)   A shares │ 17.0 x │ 6.2 x │ 23.7%
EVE ENERGY (300014.SZ)  +1.590 (+3.533%)   │ 13.3 x │ 9.5 x │ 15.2%
GOTION HIGH-TECH (002074.SZ)  +0.550 (+2.239%)   │ 21.5 x │ 12.6 x │ 6.5%
SUNWODA (300207.SZ)  +0.230 (+1.259%)   │ 13.1 x │ 8.5 x │ 9.5%
CALB (03931.HK)  +0.600 (+3.686%)    Short selling $5.02M; Ratio 24.182%   │12.7 x│-│5.2%
LG Energy Solution (373220.KS) │54.4 x │12 x │5.8%
Samsung SDI (006400.KS) │ 10.4 x │ 6.7 x │ 5.6%
Panasonic (6752.JP) │ 10.7 x │ 5.3 x │ 7.3%

Battery materials and resource manufacturers
Shares│2026E P/E│2026E EV/EBITDA│2026E ROE
TIANQI LITHIUM (09696.HK)  +1.250 (+4.960%)    Short selling $9.29M; Ratio 8.584%   │14.8 x │9.7 x │5.1%
GANFENGLITHIUM (01772.HK)  +0.860 (+4.570%)    Short selling $14.73M; Ratio 10.069%   │16.3 x │15.7 x │4.4%
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-06-04 16:25.) (A Shares quote is delayed for at least 15 mins.)