On May 20th, Contemporary Amperex Technology Co. Limited (CATL) debuted on the Hong Kong Stock Exchange, with Sinopec leading the investment as its largest cornerstone investor. This significant capital move follows the inking of the "Framework Agreement on Industrial and Capital Cooperation" between the two entities, aimed at accelerating the development of new infrastructure for battery swapping stations in China. The very next day, the two companies signed a cooperation agreement in Fujian for the first heavy-duty truck battery swapping station project, with an ambitious plan to construct no fewer than 500 battery swapping stations this year and a shared commitment to establishing 10,000 such stations in the future.

Looking ahead, Sinopec and CATL will further deepen their collaboration in various domains, including battery swapping, zero-carbon initiatives, microgrid technology, automotive ecosystem, battery materials, and beyond.