On September 16, CATL fell 4.26% in regular trading, trading at 496.6 HKD/share with turnover of 2.24 billion HKD, extending the prior session's over 6% selloff. The stock has now retreated more than 32% from its May high, with combined A+H market capitalization falling below 1.5 trillion RMB.

On the news front, growing concerns over core customers accelerating their \"de-CATL\" strategies continue to weigh on sentiment. Li Auto's new-generation L8 has shifted entirely to Xperta-supplied batteries, while Xiaomi's latest Pengcheng N70 and N90 models replaced CATL cells with proprietary Longjia batteries. Both automakers have adopted CALB and Sunwoda as alternative suppliers alongside co-development and in-house production models. Meanwhile, industry-wide overcapacity pressure intensified as multiple regions suspended new battery capacity filings, with planned storage battery capacity approaching 2 TWh — far exceeding global demand.

However, JPMorgan maintained its \"Overweight\" rating with a 725 HKD target price, noting CATL's domestic EV battery market share rose to 48% in the first half with capacity utilization at 95%, well above the industry average of 65%, suggesting its market position remains intact.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)