300750.SHE

For Contemporary Amperex Technology Co., Limited to rerate higher, the Net Profit attributable to shareholders for Q2 2026 needs to translate into an EPS significantly exceeding the consensus estimate of 4.828 CNY. A beat similar to or greater than the Q1 2026 EPS beat of 22% would be a strong positive signal. This must be coupled with a year-over-year growth rate for Net Profit attributable to shareholders of at least 30-40%. This performance would demonstrate robust profitability and operational efficiency, especially in the context of competitive pressures and raw material price fluctuations.

Achieving this threshold validates CATL's market leadership and innovation in EV and energy storage, particularly with new sodium-ion battery technologies. It signals robust demand, effective cost management, and resilience against industry pressures, reinforcing the 'Humanoid '25: Power & Energy' long thesis and driving positive valuation and investor confidence.

Total Revenue for Q2 2026 needs to hit at least RMB 145 billion, representing a beat of the analyst consensus estimate (RMB 137.885 billion) by over 5% and demonstrating year-over-year growth exceeding 50%.

Achieving this revenue threshold would signal CATL's sustained high growth and market leadership in both EV and energy storage battery sectors, validating its innovative battery solutions like the new sodium-ion technology. This performance would reinforce the 'Humanoid '25: Power & Energy' long thesis, confirming strong demand and competitive positioning for investors, especially amidst concerns about EV battery price compression and raw material price fluctuations.

For Contemporary Amperex Technology Co., Limited (CATL) to rerate higher, its operating profit margin needs to exceed 18-20%. This would represent a significant beat against the current analyst consensus for 2026, which forecasts an operating profit margin of approximately 16.6%. Achieving a margin above 18% would demonstrate resilience against industry-wide EV battery price compression and potential oversupply, aligning with CATL's historical strong performance, which saw operating margins of 18% in 2025.

Exceeding the 18-20% operating profit margin threshold is crucial as it signals CATL's ability to sustain robust profitability despite competitive pressures and raw material volatility. This validates its technology leadership and cost-reduction strategies, reinforcing the 'Humanoid '25: Power & Energy' long thesis by demonstrating strong margins from high-energy-density battery demand, thereby improving valuation and competitive position.