CATL recorded a profit of 55.3 yuan ($7.6 billion) in 2024, up 16.8% from 2023. Its listing surpassed JX Advanced Metals’ $2.9 billion IPO in Japan in March, which was previously the largest this year, according to Renaissance Capital, a provider of pre-IPO research and IPO-focused ETFs.

The IPO had raised 35.7 billion Hong Kong dollars ($4.6 billion) according to a company filing, reportedly making it the largest global listing in 2025.

EV battery maker’s shares advance 16.4 per cent to close at HK$306.20 on the first day of trading in the city.