CATL Shares Pull Back After Unveiling Fast-Charging Battery Innovation

By Jiahui Huang

Contemporary Amperex Technology's shares fell after the Tesla supplier showcased improvements to its fast-charging batteries, pulling back after recent sharp gains.

Shares fell 5.0% in Hong Kong to 699 Hong Kong dollars, equivalent to US$89.27, in Wednesday morning trading. The company's Shenzhen-listed shares dropped 1.2%. CATL shares rose 4.8% in Hong Kong on Tuesday, while its Shenzhen-listed shares closed 3.5% higher.

At its much-anticipated technology day on Tuesday evening, CATL introduced its new Shenxing 3 battery, which it says can charge from 10% to 98% in about 6.5 minutes under normal temperatures, bringing electric-vehicle charging time closer to the time taken to refuel gasoline vehicles.

The charging speed also surpassed the roughly nine-minute fast-charging technology unveiled by Chinese EV giant BYD last month.

"This effectively closes the gap with ICE vehicles," Bernstein analysts wrote in a note, referring to cars equipped with internal combustion engines.

The company also launched the Qilin 3 battery, which it says can deliver a 1,000-kilometer driving range and weighs only 625 kilograms, much lighter than the BYD Long Blade 2.0 battery.

CATL also released the Qilin condensed-state battery, which it says supports a driving range of up to 1,500 kilometers for executive sedans and 1,000 kilometers for full-size sport utility vehicles. Bernstein analysts said this product should be particularly attractive for the European and North American markets, where long-distance driving is more prevalent.

CATL said earlier this month that it planned to acquire a 49% stake in Hangzhou Zhongheng Electric, a supplier of data-center power equipment, for around $600 million, a move aimed at expanding into the fast-growing market for data-center infrastructure energy systems amid a global surge of AI development.

Shares of CATL have held up relatively well during the recent market turmoil stemming from the Middle East conflict. The stock is up about 20% year to date in China and 38% higher in Hong Kong, reflecting investor confidence in CATL's dominant position in the battery industry.

Write to Jiahui Huang at jiahui.huang@wsj.com

(END) Dow Jones Newswires

April 22, 2026 00:32 ET (04:32 GMT)