China International Capital Corporation: CATL's Profitability is Excellent, Raises 2024 Earnings Forecast to RMB 95.98 Billion

SadMoneyMeow · 2026-03-17T02:49:36+00:00

China International Capital Corporation raised its 2026 profit forecast and target price for CATL. A-share target price is 490 yuan, and Hong Kong stock target price is 650 Hong Kong dollars, maintaining the outperform industry rating. The company's revenue grew 17% last year, with net profit attributable to mother company up 42.3%, outperforming market expectations.

SadMoneyMeow

2026-03-17 02:49:36

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China International Capital Corporation (CICC) released a research report stating that it has respectively raised the 2026 earnings forecasts for CATL (300750.SZ, 03750) in A-shares and H-shares by 9.1% and 6.5% to 95.98 billion yuan, and introduced a 2027 earnings forecast of 120.2 billion yuan. The target price for A-shares has been increased by 10.1% to 490 yuan, and the Hong Kong stock target price has been raised by 12.1% to 650 HKD.

The A-share target price corresponds to a PE ratio of 23.3x and 18.6x for the next two years, with a 23.9% upside potential.

The Hong Kong stock target price corresponds to a PE ratio of 27.5x and 21.7x for the next two years, with a 6.6% upside potential, maintaining an outperform industry rating.

CATL’s revenue last year was 423.702 billion yuan, up 17% year-on-year; net profit attributable to shareholders was 72.201 billion yuan, up 42.3% year-on-year; non-recurring net profit was 64.508 billion yuan, up 43.4% year-on-year. Benefiting from the steady increase in the company’s global market share and continuous improvement in profitability, the company’s 2025 performance exceeded market expectations.

(Edited by: Dong Pingping)

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