Contemporary Amperex Technology Co Ltd Class A
300750: XSHE (CHN)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
¥145.00 | Khwsn | Swgldlzl |
CATL’s Q4 In Line; Margin Recovery Expected To Continue This Year; FVE Kept at CNY 433
Fourth-quarter revenue for no-moat Contemporary Amperex Technology, or CATL, doubled year over year to CNY 118 billion, in line with our expectation. Net profit for the quarter increased 61% year over year to CNY 13.1 billion, at the midpoint of the preliminary announcement. We maintain our fair value estimate at CNY 433, which implies a forward P/E ratio of 25.8 times.