At the end of 2024, CATL announced that it plans to issue overseas listed foreign shares (H shares) and apply for listing on the main board of the Hong Kong Stock Exchange. The fundraising scale was originally estimated to be at least US$5 billion, which may be the largest IPO in the Hong Kong stock market in recent years. Morgan even estimated that its financing amount may be as high as US$7.7 billion. Recently, domestic and foreign investment banks have been scrambling to become the sponsor and main underwriter of CATL's H-share IPO. According to market rumors, CATL originally planned to pay an underwriting fee of 0.2%, and some investment banks were willing to undertake it at a rate of 0.01% of the financing amount.