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CATL Surges to Overtake Moutai asChina’s Third Largest Stock 宁德时代股价暴涨超越茅台成为中国第三⼤市值股票 ByWinnie HsuandCharlotte Yang作者:Winnie Hsu与Charlotte YangSeptember 25, 2025 at 12:16 PM GMT+8 BPC > disable Dark Reader or enableJavaScript for site Contemporary Amperex Technology Co. Ltd.overtookliquor makerKweichow Moutai Co.to become China’s thirdlargest locally listed stock by market value as strong outlookfor battery demand boosted investor sentiment. 宁德时代新能源科技股份有限公司在电池需求前景强劲提振投资者信⼼的推动下,超过⽩酒制造商贵州茅台股份有限公司,成为中国第三⼤本⼟上市公司(按市值计算)。 The Shenzhen-listed battery giant gained as much as 6%Thursday to a record high, pushing the company’s marketcapitalization to 1.83 trillion yuan ($257 billion), surpassingMoutai’s 1.8 trillion yuan valuation, according to data compiled by Bloomberg. 这家在深圳上市的电池巨头周四股价⼀度上涨最多6%,创历史新⾼,使公司市值达到1.83万亿元⼈民币(2570亿美元),超过彭博汇编数据显⽰的茅台1.8万亿元⼈民币估值。 “Battery outlook is good” and some investors may berotating out of electric vehicle stocks into battery stocks,benefiting sector leader CATL, saidKelvin Lau, an analyst atDaiwa Capital Markets Hong Kong. “⼤电池前景良好”,部分投资者可能正在从电动车股轮动⾄电池股,受惠企业龙头宁德时代(CATL),⼤和资本市场⾹港的分析师Kelvin Lau表⽰。 Shares of the world’s biggest battery maker have surged 30%onshore this month, thanks tohopesthat its dominantposition in the rapidly expanding energy storage battery system, or ESS space, will lead to future profits. 这家全球最⼤电池制造商的在岸股本⽉已暴涨30%,因市场希望其在快速扩张的储能电池系统(ESS)领域的主导地位将带来未来利润。 READ MORE:CATL’s Stock Touted as Cheap Even After a$110 Billion Rally 相关阅读:尽管已暴涨1,100亿美元,宁德时代的股票仍被誉为便宜 — With assistance from Mengchen Lu ——并由孟⾠·卢提供协助 Contact us: Provide news feedback or report an error Site feedback:Take our Survey Confidential tip?Send a tip to our reporters Before it’s here, it’s on theBloomberg Terminal