CALB posted a strong 56% year-on-year revenue growth in the third quarter, driven by higher battery shipments. However, gross margin narrowed 50 basis points from a year ago.
EV battery demand will remain resilient, driven by the global vehicle electrification trend. As one of the leading players, CALB will benefit from robust battery demand growth.
Bears
Given low pricing power, fluctuations in raw material prices will significantly affect CALB’s profitability, resulting in volatility and uncertainty in earnings forecast.
Headquartered in Changzhou, Jiangsu Province, CALB is a leading new energy 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 batteries and energy storage system products. Established in 2015 via a spinoff from its parent company, which was ultimately controlled by the Aviation Industry Corporation of China, CALB has become one of the leading EV battery companies. With 5% market share in 2025 in terms of installed capacity, CALB ranked fourth among global EV battery companies and third in China with 7% share.