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New Energy Vehicles ETF
159824.SZ
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CATL's Co-Founder Earns 1.7 Billion Yuan From Share Sale; Shares Down 4%

CATL's Co-Founder Earns 1.7 Billion Yuan From Share Sale; Shares Down 4%

marketscreener·
SZ
300750
-2.48%
HK
03750
-4.51%
marketscreener·
SZ
300750
-2.48%
HK
03750
-4.51%

China Stocks Drop on Tech Selloff

China's Shanghai Composite fell 1.6% and Shenzhen Component dropped 2.8% due to a tech and AI-linked global selloff. Key tech decliners included Zhongji Innolight, Eoptolink Technology, Shannon Semiconductor, Foxconn Industrial, and Victory Giant. New energy stocks like Sungrow Power, Contemporary Amperex, and Ganfeng Lithium also saw losses.

Trading Economics·
SZ
300308
-5.69%
SZ
300502
-8.46%
HK
01772
-13.16%
Trading Economics·
SZ
300308
-5.69%
SZ
300502
-8.46%
HK
01772
-13.16%

Co-founder of Chinese EV battery giant pockets US$239 million windfall from 1% stake sale

Huang Shilin, co-founder of CATL, sold a 1% stake in the company for US$239 million amid a share rally. Despite the sale, he retains over 9% ownership. CATL's shares rose 46% this year, driven by technological advancements and global expansion. The company plans to open a new factory in Hungary by 2025. Huang, ranked 23rd wealthiest in China, recently stepped down from his role at CATL.

南华早报·
SZ
300750
-2.48%
HK
03750
-4.51%
南华早报·
SZ
300750
-2.48%
HK
03750
-4.51%