Equity Long-Short

Mo Aziz

Capital markets veteran with 25 years across sell-side and buy-side research, investor relations, and fund management. Currently publish independent equity research (Mofferies Investment Research, via Smartkarma) spanning semiconductor memory (DRAM/NAND/HBM), foundry, semiconductor equipment and advanced packaging, gold and cross-asset strategy, financials forensics, and APAC IPOs — with a standing watchlist of 190+ companies across 41 countries. Background includes deep aviation-sector expertise (airlines, airports, OEMs, lessors, air cargo, travel/OTAs). Approach centers on identifying cyclical inflection points and mispriced risk across sectors, translated into explicit, actionable calls.

CATL (300750 CH / 3750 HK): The Market Priced the AI Programme at Zero. We Agree.

CATL (300750 CH / 3750 HK): H1-26 Above Consensus; Record Buyback Reverses the Dilution Trade

CATL (3560 HK): Strong 1Q26 Results Mask a Strategic Pivot — Capital Raise Risk Is the Trade

Equity Bottom-Up

Contemporary Amperex Technology / Equity Bottom-Up

Contemporary Amperex Technology (3750 HK)

<ul>
<li>CATL's BESS revenue surged 87.5% YoY to RMB53.26bn in H1 2026, now 19.23% of sales — the mix shift the market still prices as a battery cyclical.</li>
<li>RMB17bn deployed into AI data centers, hydropower, and robotics turns CATL into an equity holder in the demand for its own BESS hardware.</li>
<li>BULLISH, FV HK$770 (3750 HK) — basis: SOTP blending core battery PE re-rating with unpriced AI-grid infrastructure optionality and RMB40bn buyback-cancellation support.</li>
</ul>


CATL's BESS revenue surged 87.5% YoY to RMB53.26bn in H1 2026, now 19.23% of sales — the mix shift the market still prices as a battery cyclical.
RMB17bn deployed into AI data centers, hydropower, and robotics turns CATL into an equity holder in the demand for its own BESS hardware.
BULLISH, FV HK$770 (3750 HK) — basis: SOTP blending core battery PE re-rating with unpriced AI-grid infrastructure optionality and RMB40bn buyback-cancellation support.


CATL (3750 HK / 300750 CH): Stop Pricing It as a Battery Cyclical — Start Pricing the Grid