Equity Research Analyst - Long-Short

Raj S, CA, CFA

I am Raj - CA and CFA. A Buy-side analyst.

I cover BFSI, Autos, Tech, AI and several other sectors across geographies.
   
I am a CA and CFA, with 10+ years experience in fundamental equity research across buy-side and sell-side and across geographies.

My research process is fundamental driven, focused on the catalysts which would have a direct impact on a stocks performance and market valuation. These days, I look for names which have a clear mis-pricing evident in its valuation vs. fundamental business moats/ growth/ NAV. Fortunately, there are always such stories around. More importantly, the timeline of when the mis-pricing is resolved and what triggers this resolution is what interests me.

CATL (3750 HK): 42% YTD Rally - Option Traders Target HKD 800 as Positioning Turns Neutral

Pop Mart, Trip.com, Geely Auto, and More: Weekly Options Start Trading on 15 June

CATL (3750HK / 3000750 CH): Market Leader at a Discount - 2Q26 Review

Aequitas ECM Weekly (4 May 2026)- CATL, Innolight, Lightelligence, Unimicron, Cofoe, Lenskart, Seres

CATL H-Share (3750 HK) Placement Dip Opens Put-Underwriting Setup

HK IPO Essential Statistics: Quantifying Lock-Up Expiry Overhang

2025/2026 HK IPO: Cornerstone Investors That Matter

Equity Bottom-Up

Contemporary Amperex Technology / Equity Bottom-Up

Contemporary Amperex Technology (3750 HK)

<ul>
<li>
Market dominance: CATL remains the dominant battery leader across PV, ESS, CV and exports, with premium-segment strength, early CV penetration growth, rising ESS share and robust RMB100mn+ NP/GWh unit economics.</li>
<li>
Technology: Sodium-ion and semi-solid / condensed batteries extend CATL into value and premium segments, while ESS systems and CV battery swap deepen customer relevance across new growth categories.</li>
<li>
Valuation: Our TP implies 100%+ on A-share and  40%+ on H-share - any consolidation is a strong buy opportunity. High-conviction long-term compounder. H-share vs A-share premium a key watch.</li>
</ul>



Market dominance: CATL remains the dominant battery leader across PV, ESS, CV and exports, with premium-segment strength, early CV penetration growth, rising ESS share and robust RMB100mn+ NP/GWh unit economics.

Technology: Sodium-ion and semi-solid / condensed batteries extend CATL into value and premium segments, while ESS systems and CV battery swap deepen customer relevance across new growth categories.

Valuation: Our TP implies 100%+ on A-share and  40%+ on H-share - any consolidation is a strong buy opportunity. High-conviction long-term compounder. H-share vs A-share premium a key watch.


Contemporary Amperex Technology (CATL) (300750 CH)

CATL (3750HK / 3000750 CH): Long-Term Compounder Proving Market Dominance