CALB Shares Jump Over 7% on Doubled H1 Profit and Xiaomi Supply Deal

Shares of Chinese electric vehicle battery maker CALB (China Aviation Lithium Battery Technology, 03931.HK) surged more than 7% in Hong Kong trading, closing at HK$18.65 on turnover of HK$137 million. The rally followed the release of strong first-half financial results and positive developments in its customer base, including securing a supply deal with smartphone giant Xiaomi for its new EV.

Strong H1 Financial Performance

According to a report from Zhitong Finance, CALB's revenue for the first half of the year grew 65% year-over-year to ¥27.08 billion. The company's net profit attributable to shareholders more than doubled, jumping 100.7% to ¥935 million.

This growth was driven by solid performance across its two main business lines:

• Power Batteries: Revenue from this core segment, which supplies automakers, increased by 54.8% to ¥16.51 billion.
• Energy Storage & Other: This division saw even faster growth, with revenue soaring by 83.8%. It now accounts for nearly 40% of the company's total revenue, highlighting a successful diversification strategy.

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Expanding Customer Base

CALB is increasingly winning contracts with major automakers, challenging the long-held industry norm of top-tier electric vehicles exclusively using batteries from market leader CATL. The company held a global power battery market share of approximately 5.1% in the first half of the year.

CALB reported that deliveries to major clients including XPeng, Toyota, and partners in Huawei's Harmony OS ecosystem are proceeding steadily. Critically, the company has started mass production and supply for Xiaomi's highly anticipated electric vehicle, marking a significant new customer win and signaling growing trust from major technology players entering the automotive space.