<\/p>\n
Contemporary Amperex Technology suffered its steepest two\u2011day drop in almost a year as investors evaluated the Chinese battery giant\u2019s third\u2011quarter outlook and speculation it may scale back production.<\/p>\n
Shares of the world\u2019s largest battery maker fell up to 5.5% Wednesday in Shenzhen, compounding Tuesday\u2019s drop to bring total losses to about 10%. Market chatter about possible September output cuts and a potential reduction third-quarter unit net profit, along with concerns over rising competition from automakers\u2019 supply diversification, weighed on the shares, traders said.<\/p>\n
\u201cThere is weak sentiment in the battery sector on fiercer competition and a potential battery strategy shift by downstream EV producers such as Li Auto,\u201d Kelvin Lau, executive director at Daiwa Capital Markets, said, noting the market speculation\u2019s role in the two-day selloff.<\/p>\n<\/p>\n
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The latest rout extends a broader slide in CATL, whose shares have fallen around 35% from the all-time high reached in May, erasing over $100 billion in market value. Investors remain cautious as the company faces a domestic market hit by weakening auto demand, while overseas momentum is clouded by US and European geopolitical risks.<\/p>\n
The company did not respond to Bloomberg\u2019s request for comment.<\/p>\n
Still, CATL has a robust shipment plan, with volumes likely to sequentially rise 20% in the third quarter and another 30% in the fourth, according to Lau.<\/p>\n
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Leonid Mironov, portfolio manager at Gavekal Capital, said he remains long-term bullish on the company.<\/p>\n
\u201cNext quarter reporting should be an opportunity for the company to communicate that all is well or update the guidance,\u201d he said.<\/p>\n
Shares of CATL\u2019s domestic competitors rose Wednesday, with Sunwoda Electronic Co up as much as 18% onshore and CALB Group Co. climbing 7.2% in Hong Kong.<\/p>\n
\u00a9 2026 Bloomberg<\/p>\n
#CATL #shares #drop #days #outlook #worries #mount<\/p>\n","protected":false},"excerpt":{"rendered":"
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