Morningstar

CALB Group Co Ltd Class H 03931

Morningstar Rating
Unlock
Stock XHKG Rating as of
HK$13.26 +0.58 (4.57%)
View Full Chart
As of Delayed Price Open

Company Report

View Archive

CALB Earnings: Revenue and Net Profit Missed; Rising Operating Expenses Eased Margin Gain

Vincent Sun

No-moat CALB’s respective first-half revenue and net profit growths of 1.3% and 70% year on year were weaker than we expected due to a decline in electric vehicle battery selling prices and a surge in operating expenses. The company posted muted year-over-year revenue growth for the period, with shipment increase offset by sluggish battery prices. Gross margin beat with 6 percentage points gain year over year, but operating expenses more than doubled from a year ago.

Read Full Report

Price vs Fair Value

View History
03931 is trading at a 517% premium.
Price
HK$12.68
Fair Value
HK$54.20
Uncertainty
High
1-Star Price
HK$71.20
5-Star Price
HK$5.76
Economic Moat
Zcf
Capital Allocation
Jmngsdbr

Bulls Say, Bears Say

Bulls

EV battery demand will remain resilient driven by the global vehicle electrification trend. As one of the leading players, CALB will benefit from the robust demand growth.

Bears

Given low pricing power, fluctuation in the raw materials prices will significantly affect CALB’s profitability, resulting in volatility and uncertainty in earnings forecast.

Show More

Trading Information

Previous Close Price
HK$12.68
Day Range
HK$12.50–13.40
52-Week Range
HK$11.02–20.35
Bid/Ask
HK$13.24 / HK$13.34
Market Cap
HK$23.57 Bil
Volume/Avg
499,500 / 405,241

Key Statistics

Price/Earnings (Normalized)
19.91
Price/Sales
0.75
Dividend Yield (Trailing)
0.00%
Dividend Yield (Forward)
0.00%
Total Yield
—

Company Profile

Headquartered in Changzhou, Jiangsu Province, CALB a leading new energy technology company specializing in the development, production, sales, and market application of lithium-ion batteries, battery management systems and related integrated products, and lithium battery materials. The company’s products mainly include electric vehicle, or EV, batteries and energy storage system, or ESS, products. Established in 2015 via a spinoff from its parent company, which was ultimately controlled by Aviation Industry Corporation of China, or AVIC, CALB has become one of the leading EV battery companies. With 5% market share in 2023 in terms of installed capacity, CALB ranked sixth among global EV battery companies and third in China with 8% market share.
Sector
Industrials
Industry
Electrical Equipment & Parts
Stock Style Box
Mid Growth
Total Number of Employees
16,962
Website
https://www.calb-tech.com

Competitors

Valuation

View More
Metric
03931
6752
006400
Price/Earnings (Normalized)
 19.916.5114.24
Price/Book Value
 0.590.621.33
Price/Sales
 0.750.351.20
Price/Cash Flow
 8.874.688.49
Price/Earnings
03931
6752
006400

Financial Strength

Metric
03931
6752
006400
Quick Ratio
 0.600.870.56
Current Ratio
 0.871.330.94
Interest Coverage
 1.9014.627.17
Quick Ratio
03931
6752
006400

Profitability

Metric
03931
6752
006400
Return on Assets (Normalized)
 1.18%5.42%5.34%
Return on Equity (Normalized)
 3.37%11.56%10.08%
Return on Invested Capital (Normalized)
 1.90%7.30%7.77%
Return on Assets
03931
6752
006400

Electrical Equipment & Parts Industry Comparables

Screen With Investor
1-Day Chart
Name
Price
Morningstar Rating for Stocks
Capital Allocation
Economic Moat
Market Cap
ABB Ltd
ABLZF
—Klc$108.8 Bil
 ABB Ltd ADR
ABBNY
PpqfswyzzHphp$108.8 Bil
 Vertiv Holdings Co Class A
VRT
—Hzffch$37.7 Bil
 Mitsubishi Electric Corp ADR
MIELY
—Ftwqmvr$34.6 Bil
 Mitsubishi Electric Corp
MIELF
—Kjhypk$34.6 Bil
 Legrand SA
LGRVF
—Ttsz$30.8 Bil
 Legrand SA ADR
LGRDY
—Pndq$30.8 Bil
 Hayward Holdings Inc
HAYW
HqnwddxjcVdyjx$3.2 Bil
 Bloom Energy Corp Class A
BE
DfqmqsfdcXhl$2.4 Bil
 Plug Power Inc
PLUG
WrppQsbkx$1.8 Bil

Sponsor Center