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CATL Hyped Up 7%; CIAPS Advocates Against Malicious Price Competition on Lithium Iron Phosphate in CN
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Chinese battery packaging stocks rallied this morning (29th). CATL (03750.HK) opened nearly 1.6% higher and once surged by nearly 8.8% to an intraday high of HKD443. It last traded at HKD436.8, up 7.3%, with a turnover of HKD1.82 billion. BYD COMPANY (01211.HK) rose 2.6% to HKD114.9, REPT BATTERO (00666.HK) climbed by 6.1%. CALB (03931.HK) leaped by 5.7%. The China Industrial Association of Power Sources (CIAPS) has recently issued a Proposal on Maintaining Healthy and Orderly Development of the Lithium Iron Phosphate Material Industry (Draft for Comments), aiming to crack down on malicious price competition and maintain fair market order, according to a report by Cailian Press. The proposal suggested that companies in the industry should strictly adhere to national laws and regulations, resolutely eliminating any form of below-cost pricing, abuse of market dominance, and other unfair competition practices. To effectively resist malicious price competition and keep alive a fair and orderly market environment, the CIAPS advocated establishing a "Lithium Iron Phosphate Product Cost Price Index" and entrusting qualified third-party institutions to regularly conduct cost research and index compilation and release, providing objective references for reasonable pricing by enterprises. AAStocks Financial News |
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