CALB Co., Ltd. Class H (HK:3931)
:3931
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CALB Co., Ltd. Class H
(3931)
Select Model
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Rating:54Neutral
Price Target:
HK$30.00
▼(-19.44% Downside)
Action:Reiterated
Date:05/02/26
The score is held back primarily by elevated financial risk—rising leverage and consistently negative free cash flow—despite strong 2025 revenue growth and improving profitability. Technicals are constructive with price above major moving averages, while valuation appears relatively expensive at ~27.8x earnings without a dividend yield provided.
Positive Factors
Revenue Momentum
Sustained high revenue growth demonstrates strong end-market demand and product adoption, providing a durable top-line base. Continued revenue expansion supports scale economics, capacity utilization, and reinvestment for market share gains over the next 2–6 months.
Negative Factors
Rapidly Rising Leverage
The sharp increase in leverage materially raises financial risk and amplifies exposure to interest-rate and refinancing cycles. Higher debt limits strategic flexibility, raises fixed costs, and increases default risk if cash conversion or margins disappoint over the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Momentum
Sustained high revenue growth demonstrates strong end-market demand and product adoption, providing a durable top-line base. Continued revenue expansion supports scale economics, capacity utilization, and reinvestment for market share gains over the next 2–6 months.
Read all positive factors
CALB Co., Ltd. Class H (3931) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$52.57B
Dividend YieldN/A
Average Volume (3M)13.45M
Price to Earnings (P/E)―
Beta (1Y)0.86
Revenue Growth60.41%
EPS Growth150.51%
CountryHK
Employees10,534
SectorIndustrials
Sector Strength72
IndustryElectrical Equipment & Parts
Share Statistics
EPS (TTM)0.46
Shares Outstanding761,499,400
10 Day Avg. Volume8,045,357
30 Day Avg. Volume13,450,382
Financial Highlights & Ratios
PEG Ratio0.18
Price to Book (P/B)1.09
Price to Sales (P/S)0.90
P/FCF Ratio-6.02
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$40.98Price Target Upside10.04% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering6
EPS Forecast (FY)1.52
Revenue Forecast (FY)HK$72.11B
CALB Co., Ltd. Class H Business Overview & Revenue Model
Company Description
CALB 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 St...
How the Company Makes Money
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CALB Co., Ltd. Class H Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
46
Neutral
Cash Flow
33
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 31.70B | 44.40B | 27.75B | 27.01B | 20.37B | 6.82B |
| Gross Profit | 5.15B | 6.89B | 4.26B | 2.65B | 2.45B | 254.98M |
| EBITDA | 3.62B | 7.36B | 2.70B | 2.51B | 1.51B | 442.29M |
| Net Income | 808.17M | 1.48B | 591.20M | 294.38M | 691.63M | 140.03M |
Balance Sheet | ||||||
| Total Assets | 130.54B | 148.62B | 122.47B | 105.43B | 90.46B | 38.62B |
| Cash, Cash Equivalents and Short-Term Investments | 11.25B | 12.20B | 10.89B | 7.98B | 11.11B | 9.29B |
| Total Debt | 52.53B | 72.30B | 46.22B | 29.25B | 17.82B | 2.92B |
| Total Liabilities | 81.73B | 95.14B | 74.42B | 59.04B | 48.89B | 13.63B |
| Stockholders Equity | 35.65B | 36.75B | 35.18B | 34.65B | 34.38B | 29.56B |
Cash Flow | ||||||
| Free Cash Flow | -10.74B | -6.64B | -13.49B | -17.23B | -33.50B | -11.13B |
| Operating Cash Flow | 2.47B | 7.38B | 3.11B | 2.90B | 3.28B | 2.01B |
| Investing Cash Flow | -15.04B | -17.92B | -18.28B | -19.93B | -24.00B | -15.01B |
| Financing Cash Flow | 6.15B | 10.24B | 16.39B | 13.90B | 29.76B | 14.84B |
CALB Co., Ltd. Class H Technical Analysis
Negative
37.24
Price Trends
32.28
Negative
29.36
Negative
28.48
Positive
Market Momentum
-0.83
Positive
32.58
Neutral
7.27
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:3931, the sentiment is Negative. The current price of 37.24 is above the 20-day moving average (MA) of 33.53, above the 50-day MA of 32.28, and above the 200-day MA of 28.48, indicating a neutral trend. The MACD of -0.83 indicates Positive momentum. The RSI at 32.58 is Neutral, neither overbought nor oversold. The STOCH value of 7.27 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:3931.
CALB Co., Ltd. Class H Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | HK$26.89B | 6.29 | 17.75% | 2.24% | 15.73% | 49.88% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
55 Neutral | HK$1.29B | 12.35 | 19.99% | ― | 11.61% | 287.50% | |
54 Neutral | HK$52.57B | ― | 1.78% | ― | 60.41% | 150.51% | |
52 Neutral | HK$1.41B | -2.34 | -3.73% | 6.40% | -34.79% | -130.42% | |
51 Neutral | HK$455.61M | -1.78 | -16.83% | ― | -15.04% | 71.02% | |
43 Neutral | HK$190.98M | -18.54 | -6.19% | ― | 5.07% | 28.18% |
* Industrials Sector Average
HK:3931
CALB Co., Ltd. Class H
29.14
10.92
59.93%
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CALB Co., Ltd. Class H Corporate Events
CALB sets June 2026 AGM with no dividend plan and new share mandate
May 18, 2026
CALB Group Co., Ltd. has called its annual general meeting for 9 June 2026 in Changzhou, where shareholders will review the board and supervisory committee reports, audited 2025 financial statements and the annual report. The agenda also includes ...
CALB Group Proposes New Auditor for H Shares to Bolster Audit Coordination
May 13, 2026
CALB Group plans to replace RSM Hong Kong as auditor of its H shares for the 2026 financial year, aiming to better coordinate domestic and overseas audit work and strengthen overall corporate governance. The board, following the audit committee...
CALB Publishes Q1 2026 Unaudited Results Linked to China Debt Issuance
Apr 30, 2026
CALB Group Co., Ltd. reported its unaudited financial results for the three months ended 31 March 2026 in connection with its onshore debt financing programme in China. The disclosure, prepared under China Accounting Standards and not reviewed by ...
CALB Profit Nearly Triples on 60% Revenue Surge in 2025
Mar 27, 2026
CALB Group Co., Ltd. reported strong growth for the year ended 31 December 2025, with revenue rising 60.0% year on year to RMB44.40 billion and net profit surging 148.4% to RMB2.10 billion. Basic earnings per share jumped 149.6% to RMB0.8326, refl...
CALB Schedules March 2026 Board Meeting to Approve 2025 Results and Consider Dividend
Mar 17, 2026
CALB Group Co., Ltd. has scheduled a board meeting for March 27, 2026, to review and approve the annual results for the year ended December 31, 2025, and to authorize their publication. The board will also consider whether to recommend a final div...
CALB forecasts profit surge of up to 160% on strong battery demand
Feb 27, 2026
CALB Group has issued a positive profit alert, telling investors it expects net profit for 2025 to jump to between RMB2.03 billion and RMB2.19 billion, up about 140% to 160% from RMB844 million a year earlier. Management attributes the surge mainl...
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.