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CALB Co., Ltd. Class H
(3931)
Select Model
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Rating:51Neutral
Price Target:
HK$20.00
▼(-46.29% Downside)
Action:Reiterated
Date:07/21/26
The score is held back primarily by weak cash-flow quality (negative free cash flow) and higher leverage, which increase funding and execution risk despite improving growth and profitability. Technicals further pressure the score due to a strong downtrend and very weak momentum signals. Valuation is moderate (P/E ~16.5) but not enough to offset the financial and technical risks.
Positive Factors
Revenue Growth
Sustained top-line expansion indicates continued demand and market activity. Revenue growth provides a foundation for operating leverage and future earnings improvement, although the durability of growth will depend on maintaining customer demand and competitive positioning.
Negative Factors
High and Rising Leverage
Increasing leverage reduces financial flexibility and makes the business more exposed to funding costs, weaker demand, or execution setbacks. The elevated debt burden could constrain investment choices and amplify downside risk during an industry downturn.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
Sustained top-line expansion indicates continued demand and market activity. Revenue growth provides a foundation for operating leverage and future earnings improvement, although the durability of growth will depend on maintaining customer demand and competitive positioning.
Read all positive factors
CALB Co., Ltd. Class H (3931) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$30.25B
Dividend YieldN/A
Average Volume (3M)3.50M
Price to Earnings (P/E)15.9
Beta (1Y)0.92
Revenue Growth79.77%
EPS Growth149.08%
CountryHK
Employees14,323
SectorIndustrials
Sector Strength72
IndustryElectrical Equipment & Parts
Share Statistics
EPS (TTM)0.91
Shares Outstanding761,499,400
10 Day Avg. Volume3,789,371
30 Day Avg. Volume3,499,181
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$35.40Price Target Upside-4.95% Downside
Rating ConsensusStrong Buy
Number of Analyst Covering6
EPS Forecast (FY)1.55
Revenue Forecast (FY)HK$72.85B
CALB Co., Ltd. Class H Business Overview & Revenue Model
Company Description
CALB Group Co., Ltd., a new energy technology company, engages in the design, research, development, production, and sale of electric vehicle (EV) batteries and energy storage system (ESS) products in Mainland China, Europe, Asia, the United State...
How the Company Makes Money
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CALB Co., Ltd. Class H Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
54
Neutral
Cash Flow
39
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 49.31B | 44.40B | 27.75B | 27.01B | 20.37B | 6.82B |
| Gross Profit | 7.47B | 6.89B | 4.26B | 2.65B | 2.45B | 254.98M |
| EBITDA | 6.51B | 7.36B | 2.70B | 2.51B | 1.51B | 442.29M |
| Net Income | 1.62B | 1.48B | 591.20M | 294.38M | 691.63M | 140.03M |
Balance Sheet | ||||||
| Total Assets | 158.25B | 148.62B | 122.47B | 105.43B | 90.46B | 38.62B |
| Cash, Cash Equivalents and Short-Term Investments | 17.54B | 14.66B | 10.89B | 7.98B | 11.11B | 9.29B |
| Total Debt | 63.43B | 58.30B | 46.22B | 29.25B | 17.82B | 2.92B |
| Total Liabilities | 101.99B | 95.14B | 74.42B | 59.04B | 48.89B | 13.63B |
| Stockholders Equity | 37.27B | 36.75B | 35.18B | 34.65B | 34.38B | 29.56B |
Cash Flow | ||||||
| Free Cash Flow | -4.63B | -6.64B | -13.49B | -17.23B | -33.50B | -11.13B |
| Operating Cash Flow | 12.61B | 7.38B | 3.11B | 2.90B | 3.28B | 2.01B |
| Investing Cash Flow | -19.41B | -17.92B | -18.28B | -19.93B | -24.00B | -15.01B |
| Financing Cash Flow | 13.51B | 10.24B | 16.39B | 13.90B | 29.76B | 14.84B |
CALB Co., Ltd. Class H Technical Analysis
Negative
37.24
Price Trends
18.80
Negative
24.25
Negative
26.24
Negative
Market Momentum
-0.68
Positive
37.67
Neutral
40.14
Neutral
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 18.45, above the 50-day MA of 18.80, and above the 200-day MA of 26.24, indicating a bearish trend. The MACD of -0.68 indicates Positive momentum. The RSI at 37.67 is Neutral, neither overbought nor oversold. The STOCH value of 40.14 is Neutral, 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 |
|---|---|---|---|---|---|---|---|
77 Outperform | HK$1.88T | 17.70 | 24.50% | 1.94% | 44.55% | ― | |
67 Neutral | HK$14.81B | 11.36 | 16.80% | 3.37% | 22.27% | 33.79% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
51 Neutral | HK$30.25B | 15.88 | 4.38% | ― | 79.77% | 149.08% | |
48 Neutral | HK$1.28B | -8.76 | -2.78% | 12.29% | -44.15% | -130.35% | |
44 Neutral | HK$353.49M | -3.42 | -11.50% | ― | -7.44% | 56.28% | |
40 Underperform | HK$102.95M | -2.57 | -6.77% | 7.69% | 11.05% | 20.00% |
* Industrials Sector Average
HK:3931
CALB Co., Ltd. Class H
16.92
-9.84
-36.77%
HK:2188
China Titans Energy Technology Group Co., Ltd.
0.07
-0.21
-75.44%
HK:3393
Wasion Holdings Limited
14.24
3.31
30.30%
HK:8328
Xinyi Electric Storage Holdings Limited
0.45
-0.26
-36.62%
HK:0842
Leoch International Technology Limited
0.87
0.06
7.41%
HK:3750
Contemporary Amperex Technology Co., Limited Class H
547.50
121.14
28.41%
CALB Co., Ltd. Class H Corporate Events
CALB schedules August board meeting to review interim results and potential dividend
Aug 18, 2026
CALB Group Co., Ltd. has scheduled a board meeting for 28 August 2026 to review and approve the interim results for the six months ended 30 June 2026, along with the related disclosure for shareholders. The board will also consider whether to reco...
CALB Issues Profit Alert as Battery Business Doubles Interim Earnings
Aug 14, 2026
CALB Group Co., Ltd. has issued a positive profit alert indicating that net profit for the six months ended 30 June 2026 is expected to range between RMB1,506 million and RMB1,581 million, roughly double the RMB753 million recorded a year earlier....
CALB lifts stake in Hefei subsidiary with RMB690m connected deal
Jul 28, 2026
CALB Group Co., Ltd. has moved to increase its stake in a Hefei-based subsidiary by acquiring a 12.7230% equity interest from Hefei Beicheng Industrial Investment Guidance Fund. The RMB690 million cash deal, completed via a public tender at the He...
CALB Raises 2026 Cap on Connected Construction Deal Amid Capacity Expansion
Jul 2, 2026
CALB Group has further amended its 2024–2026 Engineering and Construction Framework Agreement with Jiangsu Chengdong Construction, a connected party, by entering into a third supplemental agreement to raise the annual spending cap for 2026. ...
CALB Shareholders Approve All 2025 AGM Resolutions, Back No-Dividend Plan
Jun 9, 2026
CALB Group Co., Ltd. reported that all resolutions at its 2025 annual general meeting on 9 June 2026 were approved by shareholders via poll, with turnout representing about 72.66% of issued shares. Shareholders endorsed the 2025 board and supervis...
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.