Contemporary Amperex Technology is likely to demonstrate continued momentum in battery shipments this year, Nomura analysts write in a note. Robust demand for energy storage systems will likely contribute to the company's revenue growth this year, they say. The company's rising market share in the global EV battery shipment due to higher unit battery usage per vehicle should offset weakness in domestic passenger EV demand, they add. The company's unit profitability in the first quarter remained

Contemporary Amperex Technology is likely to demonstrate continued momentum in battery shipments this year, Nomura analysts write in a note. Robust demand for energy storage systems will likely contribute to the company's revenue growth this year, they say. The company's rising market share in the global EV battery shipment due to higher unit battery usage per vehicle should offset weakness in domestic passenger EV demand, they add. The company's unit profitability in the first quarter remained resilient due to its pricing mechanism to partially pass on cost inflation to customers, they add. Nomura maintains a buy rating for the stock and a target price of CNY476.