On May 15, the Financial Times reported that the underwriters for CATL's Hong Kong IPO completed subscriptions on Wednesday, enabling the battery giant to raise a staggering $4.6 billion from Chinese and foreign investors. This marks the largest listing transaction globally this year. Despite possessing approximately RMB 304 billion in cash reserves as of the end of last year, CATL has opted for a secondary listing to secure additional financing. The primary objectives of this financing are to accelerate the company's global strategic expansion, establish an international capital operations platform, and fund overseas growth initiatives. By attracting overseas capital, CATL aims to diversify its shareholder base and customer portfolio, thereby bolstering its overall competitive edge. With factories already operational in Germany and Hungary, the funds raised from the Hong Kong IPO will be directed towards funding the construction of a manufacturing base in Hungary.