CATL shares tumble as profit growth lags surging revenue

CATL's Shenzhen shares fell 12% and its Hong Kong shares fell 11.9% on October 21, Caixin Global reports. The outlet says lower-margin energy-storage deliveries and new policy costs weighed on profitability. CATL management said most of those pressures were temporary. Caixin also reports that some automakers are adding alternative battery suppliers or developing batteries themselves.