China's CALB Group nine-month revenue rises 61%

Overview

• China battery maker reported unaudited nine-month revenue of RMB 45.95 bln

• Net income attributable for nine months was RMB 1.37 bln

Outlook

• Company did not provide specific guidance for future quarters or full-year results in its press release

Result Drivers

• REVENUE-COST SPREAD – Operating profit more than doubled to RMB2.40 bln as revenue growth outpaced the increase in operating costs

• ASSET IMPAIRMENT – Asset impairment losses widened to RMB596.4 mln from RMB274.0 mln, weighing on operating profit

• LONG-TERM ASSET PURCHASES – Investing cash outflow widened to RMB21.66 bln as purchases of fixed assets, intangibles and other long-term assets rose to RMB22.95 bln

Company press release: Full Story

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 13 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the electrical components & equipment peer group is "buy"

• Wall Street's median 12-month price target for CALB Group Co Ltd is HK$33.05, about 151.7% above its October 30 closing price of HK$13.13

• The stock recently traded at 5 times the next 12-month earnings vs. a P/E of 11 three months ago

Reuters Recommended Reads

• Oct 29 - Geely Automobile nine-month revenue up 13% on exports, product mix

• Oct 29 - BYD's third-quarter profit growth slows, misses forecasts

• Oct 29 - China's Fortior 9M revenue rises on industrial, automotive demand

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)