The announcement of Huang Shilin, who was once a pivotal figure at Contemporary Amperex Technology Co. Limited (CATL), regarding his reduction of shareholdings has captured the market's focus. This move has not only triggered a slump in the company's stock price but also cast a shadow over the performance of the entire battery sector.

As of the market close on November 17, CATL's A - share market capitalization had shrunk by over RMB 60 billion compared to the previous trading day, plummeting to RMB 1.78 trillion. Meanwhile, its H - share market capitalization had contracted by over HK$ 70 billion, tumbling to HK$ 2.40 trillion.

According to reports, Huang Shilin intends to transfer 1% of the company's shares, equivalent to 45.63 million shares, via a price - inquiry transfer approach. He cited personal funding requirements as the driving force behind this decision. It's important to note that this price - inquiry transfer will bypass the secondary market. Moreover, the recipients of these shares are barred from offloading them within six months of acquisition. Despite these specifics, the market reacted vigorously to the news, and CATL's stock price still witnessed a substantial drop.