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CALB Co., Ltd. Class H (HK:3931)
:3931
Hong Kong Market
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CALB Co., Ltd. Class H (3931) AI Stock Analysis

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HK:3931

CALB Co., Ltd. Class H

(3931)

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Neutral 61 (OpenAI - 4o)
Rating:61Neutral
Price Target:
HK$31.00
▲(10.71% Upside)
CALB Co., Ltd. has a solid financial performance with strong revenue growth, but faces challenges with cash flow and leverage. Technical indicators suggest bearish momentum, and the high P/E ratio indicates potential overvaluation. These factors combined result in a moderate overall stock score.
Positive Factors
Revenue Growth
The company's robust revenue growth reflects its expanding market presence in the renewable energy sector, driven by increasing demand for EVs and energy storage solutions, positioning it well for sustained future growth.
Gross Profit Margin Improvement
Improving gross profit margins suggest enhanced cost efficiency and operational effectiveness, which can lead to stronger profitability and competitiveness in the long term.
Industry Position
CALB's focus on innovation and sustainability in lithium-ion battery production strengthens its competitive position in the growing renewable energy and EV markets, supporting long-term business resilience.
Negative Factors
Net Profitability Challenges
Despite revenue growth, struggles with net profitability and cash flow management may hinder long-term financial health, requiring strategic improvements in cost control and operational efficiency.
Rising Leverage
Increased leverage could pose financial risks in volatile markets, potentially impacting the company's ability to invest in growth opportunities without incurring additional financial strain.
Free Cash Flow Struggles
Negative free cash flow due to high capital expenditures limits the company's ability to fund future investments internally, potentially increasing reliance on external financing and affecting financial flexibility.

CALB Co., Ltd. Class H (3931) vs. iShares MSCI Hong Kong ETF (EWH)

CALB Co., Ltd. Class H Business Overview & Revenue Model

Company DescriptionCALB Group Co., Ltd., a new energy technology company, engages in the research and development, design, production, and sale of electric vehicle (EV) batteries and energy storage system (ESS) products in Mainland China, Europe, Asia, the United States, and internationally. It offers passenger vehicle packs for electric passenger vehicle; commercial vehicle packs for electric buses; and energy storage modules for energy storage systems, as well as logistics vehicle packs for electric logistics vehicle. The company was founded in 2015 and is headquartered in Changzhou, the People's Republic of China.
How the Company Makes MoneyCALB generates revenue primarily through the sale of its lithium battery products, which cater to the growing demand in the electric vehicle market and energy storage systems. Key revenue streams include direct sales to automotive manufacturers, partnerships with renewable energy companies, and contracts with industrial clients seeking efficient energy solutions. The company also benefits from government incentives and subsidies for clean energy initiatives, which bolster its sales. Strategic collaborations with major automotive and technology firms further enhance CALB's market presence and financial performance, driving consistent revenue growth.

CALB Co., Ltd. Class H Financial Statement Overview

Summary
CALB Co., Ltd. shows strong revenue growth and improving margins, but faces challenges with net profitability and cash flow management. The increase in leverage requires careful financial oversight.
Income Statement
78
Positive
CALB Co., Ltd. has shown significant revenue growth over the years, with a notable increase from 2022 to 2023. The gross profit margin has been improving, indicating better cost management. However, the net profit margin remains modest, suggesting room for enhancing operational efficiency and cost control. The consistent growth in EBIT and EBITDA margins is a positive sign of increasing profitability.
Balance Sheet
70
Positive
The company's debt-to-equity ratio has increased, indicating a rise in leverage, which could pose a risk in a volatile market. However, the return on equity is improving, showing better utilization of shareholder funds. The equity ratio is stable, reflecting a balanced capital structure. Maintaining this balance will be crucial for future stability.
Cash Flow
65
Positive
The company has struggled with free cash flow, showing negative figures in recent years, partly due to high capital expenditures. The operating cash flow to net income ratio is unavailable, which limits full cash flow analysis. Improving free cash flow is essential for sustaining future investments without relying heavily on external financing.
BreakdownTTMDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue31.70B27.75B27.01B20.37B6.82B2.83B
Gross Profit5.15B4.26B2.65B2.45B254.98M302.15M
EBITDA3.62B2.70B2.51B1.51B442.29M250.81M
Net Income808.17M591.20M294.38M691.63M140.03M5.16M
Balance Sheet
Total Assets130.54B122.47B105.43B90.46B38.62B18.30B
Cash, Cash Equivalents and Short-Term Investments11.25B10.89B7.98B11.11B9.29B4.30B
Total Debt52.53B46.22B29.25B17.82B2.92B1.11B
Total Liabilities81.73B74.42B59.04B48.89B13.63B5.69B
Stockholders Equity35.65B35.18B34.65B34.38B29.56B14.42B
Cash Flow
Free Cash Flow-10.74B-13.49B-17.23B-33.50B-11.13B-1.50B
Operating Cash Flow2.47B3.11B2.90B3.28B2.01B2.15B
Investing Cash Flow-15.04B-18.28B-19.93B-24.00B-15.01B-5.26B
Financing Cash Flow6.15B16.39B13.90B29.76B14.84B4.57B

CALB Co., Ltd. Class H Technical Analysis

Technical Analysis Sentiment
Neutral
Last Price28.00
Price Trends
50DMA
31.46
Negative
100DMA
26.80
Positive
200DMA
21.94
Positive
Market Momentum
MACD
-1.06
Positive
RSI
40.78
Neutral
STOCH
27.28
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:3931, the sentiment is Neutral. The current price of 28 is below the 20-day moving average (MA) of 30.90, below the 50-day MA of 31.46, and above the 200-day MA of 21.94, indicating a neutral trend. The MACD of -1.06 indicates Positive momentum. The RSI at 40.78 is Neutral, neither overbought nor oversold. The STOCH value of 27.28 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for HK:3931.

CALB Co., Ltd. Class H Peers Comparison

Overall Rating
UnderperformOutperform
Sector (63)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
75
Outperform
HK$14.06B16.0515.02%2.67%20.33%27.05%
71
Outperform
HK$2.08B4.479.11%6.08%13.14%-28.26%
63
Neutral
$10.79B15.437.44%2.01%2.89%-14.66%
61
Neutral
HK$54.48B62.492.28%16.36%102.93%
52
Neutral
HK$1.26B35.1014.19%11.61%287.50%
51
Neutral
HK$534.16M-2.61-18.92%-28.40%-350.00%
40
Underperform
HK$350.63M-7.12-8.16%-0.84%42.31%
* Industrials Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
HK:3931
CALB Co., Ltd. Class H
28.00
16.00
133.33%
HK:2188
China Titans Energy Technology Group Co., Ltd.
0.19
-0.12
-38.71%
HK:1539
Unity Group Holdings International Limited
0.32
-0.08
-20.00%
HK:3393
Wasion Holdings Limited
14.27
7.79
120.22%
HK:8328
Xinyi Electric Storage Holdings Limited
0.65
-0.39
-37.50%
HK:0842
Leoch International Technology Limited
1.83
0.33
22.00%

CALB Co., Ltd. Class H Corporate Events

CALB Group Registers RMB5 Billion Medium-Term Notes
Oct 31, 2025

CALB Group Co., Ltd. announced the acceptance of its registration for medium-term notes by the National Association of Financial Market Institutional Investors, allowing the issuance of up to RMB5 billion over two years. The company has already issued two tranches of these notes, and its unaudited financial statements for the nine months ending September 30, 2025, have been published, highlighting its ongoing financial activities and compliance with PRC regulations.

The most recent analyst rating on (HK:3931) stock is a Buy with a HK$33.40 price target. To see the full list of analyst forecasts on CALB Co., Ltd. Class H stock, see the HK:3931 Stock Forecast page.

CALB Group Co., Ltd. Forms Strategy and Sustainable Development Committee
Oct 10, 2025

CALB Group Co., Ltd. has established a Strategy and Sustainable Development Committee to enhance its strategic planning and ESG management. This committee will focus on developing the company’s long-term strategies, assessing significant events impacting development, and ensuring compliance with ESG standards. The initiative reflects CALB’s commitment to sustainable growth and stakeholder engagement, potentially strengthening its market position and operational resilience.

The most recent analyst rating on (HK:3931) stock is a Buy with a HK$33.40 price target. To see the full list of analyst forecasts on CALB Co., Ltd. Class H stock, see the HK:3931 Stock Forecast page.

CALB Co., Ltd. Establishes Strategy and Sustainable Development Committee
Oct 10, 2025

CALB Co., Ltd. held its 2025 second extraordinary general meeting on October 10, 2025, where shareholders approved the establishment of a Strategy and Sustainable Development Committee. This move is part of CALB’s strategic efforts to enhance its governance and focus on sustainable growth, reflecting its commitment to adapting to evolving market demands and strengthening its industry position.

The most recent analyst rating on (HK:3931) stock is a Buy with a HK$33.40 price target. To see the full list of analyst forecasts on CALB Co., Ltd. Class H stock, see the HK:3931 Stock Forecast page.

CALB Group Announces Board Composition and Roles
Oct 10, 2025

CALB Group Co., Ltd. has announced the composition of its board of directors, highlighting the roles and functions of each member. This announcement underscores the company’s commitment to structured governance and strategic oversight, potentially impacting its operational efficiency and stakeholder confidence.

The most recent analyst rating on (HK:3931) stock is a Buy with a HK$33.40 price target. To see the full list of analyst forecasts on CALB Co., Ltd. Class H stock, see the HK:3931 Stock Forecast page.

CALB Group Co., Ltd. Forms Audit Committee to Strengthen Governance
Oct 10, 2025

CALB Group Co., Ltd. has established an Audit Committee as part of its board of directors to oversee financial management and auditing processes. The committee is composed of non-executive directors, with a majority being independent, to ensure unbiased oversight. This move is aimed at enhancing the company’s governance and accountability, potentially impacting its operational transparency and investor confidence.

The most recent analyst rating on (HK:3931) stock is a Buy with a HK$33.40 price target. To see the full list of analyst forecasts on CALB Co., Ltd. Class H stock, see the HK:3931 Stock Forecast page.

CALB Group Co., Ltd. Establishes Nomination Committee to Enhance Board Diversity and Governance
Oct 10, 2025

CALB Group Co., Ltd. has established a Nomination Committee within its Board of Directors to enhance governance and ensure diversity. The committee is tasked with formulating policies on board diversity, reviewing the board’s structure, and developing criteria for director nominations, which is expected to strengthen the company’s strategic alignment and operational effectiveness.

The most recent analyst rating on (HK:3931) stock is a Buy with a HK$33.40 price target. To see the full list of analyst forecasts on CALB Co., Ltd. Class H stock, see the HK:3931 Stock Forecast page.

CALB Co., Ltd. Revises Annual Caps for Engineering and Construction Agreement
Sep 26, 2025

CALB Co., Ltd. has announced a revision of the annual caps for the 2024 to 2026 Engineering and Construction Framework Agreement with Jiangsu Chengdong Construction. This revision, formalized through Supplemental Agreement II, adjusts the financial limits for the years ending December 31, 2025, and 2026, while maintaining the other principal terms of the agreement. The transactions are classified as continuing connected transactions under the Listing Rules, subject to specific reporting and review requirements, but exempt from circular and independent shareholders’ approval.

The most recent analyst rating on (HK:3931) stock is a Buy with a HK$33.40 price target. To see the full list of analyst forecasts on CALB Co., Ltd. Class H stock, see the HK:3931 Stock Forecast page.

CALB Group Announces 2025 Extraordinary General Meeting
Sep 17, 2025

CALB Group Co., Ltd., a company incorporated in the People’s Republic of China, has announced the scheduling of its 2025 second extraordinary general meeting (EGM) to be held on October 10, 2025. The primary agenda of this meeting is to consider and approve the election of Ms. Xiao Wen as an independent non-executive director of the company’s board. This decision is part of the company’s governance and strategic planning efforts, potentially impacting its leadership dynamics and stakeholder confidence.

The most recent analyst rating on (HK:3931) stock is a Hold with a HK$30.00 price target. To see the full list of analyst forecasts on CALB Co., Ltd. Class H stock, see the HK:3931 Stock Forecast page.

CALB Group Announces Director Resignation and Proposed Appointment
Sep 16, 2025

CALB Group Co., Ltd., a company incorporated in the People’s Republic of China, announced the resignation of Mr. Wu Guangquan as an independent non-executive director due to personal work adjustments. Mr. Wu will continue his duties until a new director is elected at an extraordinary general meeting. The company has proposed Ms. Xiao Wen as a candidate for the independent non-executive director position, pending shareholder approval. Ms. Xiao has been confirmed to meet all independence criteria and has no financial interests or relationships with the company.

The most recent analyst rating on (HK:3931) stock is a Hold with a HK$30.00 price target. To see the full list of analyst forecasts on CALB Co., Ltd. Class H stock, see the HK:3931 Stock Forecast page.

CALB Group Completes H Share Full Circulation to Boost Market Presence
Sep 4, 2025

CALB Group Co., Ltd. has successfully completed the conversion of 149,831,290 domestic shares into H shares, which will be listed on the Hong Kong Stock Exchange. This move increases the proportion of H shares in the company’s shareholding structure, potentially enhancing liquidity and attracting more international investors.

The most recent analyst rating on (HK:3931) stock is a Hold with a HK$19.60 price target. To see the full list of analyst forecasts on CALB Co., Ltd. Class H stock, see the HK:3931 Stock Forecast page.

CALB Group Reports Strong Interim Financial Results for 2025
Aug 27, 2025

CALB Group Co., Ltd. has reported a significant financial performance for the first half of 2025, with a 31.7% increase in revenue to RMB16,418.88 million and an 80.4% rise in profit to RMB752.99 million compared to the same period in 2024. This robust growth is indicative of the company’s strong market positioning and operational efficiency, which may enhance stakeholder confidence and further solidify its standing in the competitive energy sector.

The most recent analyst rating on (HK:3931) stock is a Buy with a HK$25.00 price target. To see the full list of analyst forecasts on CALB Co., Ltd. Class H stock, see the HK:3931 Stock Forecast page.

CALB Group Secures Approval for H Share Full Circulation on Hong Kong Stock Exchange
Aug 19, 2025

CALB Group Co., Ltd. has received approval from the Hong Kong Stock Exchange for the listing and trading of 149,831,290 H Shares, marking the completion of its H Share Full Circulation initiative. This move involves 13 participating shareholders and represents approximately 8.45% of the company’s total issued shares, potentially enhancing liquidity and market presence.

The most recent analyst rating on (HK:3931) stock is a Hold with a HK$23.00 price target. To see the full list of analyst forecasts on CALB Co., Ltd. Class H stock, see the HK:3931 Stock Forecast page.

CALB Group Schedules Board Meeting to Review Interim Results
Aug 15, 2025

CALB Group Co., Ltd. has announced that its board of directors will hold a meeting on August 27, 2025, to consider and approve the interim results for the first half of 2025 and discuss the potential payment of an interim dividend. This meeting is significant as it will provide insights into the company’s financial performance and strategic direction, potentially impacting investor confidence and stakeholder interests.

The most recent analyst rating on (HK:3931) stock is a Hold with a HK$15.50 price target. To see the full list of analyst forecasts on CALB Co., Ltd. Class H stock, see the HK:3931 Stock Forecast page.

CALB Group Advances H Share Full Circulation with CSRC Filing
Aug 14, 2025

CALB Group Co., Ltd. announced that it has received a filing notice from the China Securities Regulatory Commission (CSRC) regarding the implementation of H Share Full Circulation for its domestic shares. This development marks a significant step towards enhancing the company’s market presence and liquidity, with the filing valid for 12 months from August 11, 2025. The company plans to seek approval from the Stock Exchange’s listing committee for the listing and trading of the relevant H Shares, although the implementation plan details are still being finalized. Stakeholders are advised to exercise caution as the process is subject to further regulatory procedures.

The most recent analyst rating on (HK:3931) stock is a Hold with a HK$15.50 price target. To see the full list of analyst forecasts on CALB Co., Ltd. Class H stock, see the HK:3931 Stock Forecast page.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Nov 21, 2025