GreenergyDaily

Nov. 13, 2025

Chinese battery stocks surged as Contemporary Amperex Technology Co.'s deal with an energy storage-system manufacturer stoked investor excitement about the sector.

CATL soared 7.6% in Shenzhen on Thursday to a record close, after Beijing Hyperstrong Technology Co. said it had locked in an order of 200 GWh of energy storage system batteries from the firm. CATL closed up 3.2% in Hong Kong, while Hyperstrong closed up 20% at its daily limit in Shanghai.

"The deal confirms strong energy storage system demand globally and a shortage of high-end products, as well as CATL's championship in the value chain," Morgan Stanley analysts including Jack Lu wrote in a note. While no prices were disclosed, it's likely that CATL would receive a price or margin premium to allow this large order lock-in under the tight supply-demand conditions, they added.

The sale, which would be completed over the course of three years, means the annual order would be equivalent to 50% of CATL's energy-storage-system 2025 sales volume, according to Morgan Stanley. Peers like Tesla Inc. and Sungrow Power Supply Co. might soon seek arrangements to nail down supply, hence boosting CATL's demand for battery materials, the firm said.

Battery materials makers closed higher, with Shenzhen Capchem Technology Co. closing up 17.5%, Shenzhen Senior Technology Material Co. 15%, and Eve Energy Co. 9.2%. Ganfeng Lithium Group Co. closed up 12% in Hong Kong, while Tianqi Lithium Corp. gained 10% at close.