宁德时代在香港上市的股票在经历数月抛售后，仍保持较深圳交易所同业的显著溢价，凸显了境内外投资者在该中国电池巨头业绩发布前的分歧。
Amperex Technology Co. Ltd.’s Hong Kong-listed shares have maintained a considerable premium over their Shenzhen-traded peers after a months-long selloff, underscoring a divide between onshore and offshore investors ahead of the Chinese battery giant’s earnings release.
全球最大电池制造商在香港的股价仍比内地交易所高出41%，而这一溢价已从6月创下的约60%纪录有所收窄。
The world’s largest battery maker remains 41% pricier in Hong Kong than on the mainland bourse, after narrowing the gap from June’s record of roughly 60%.
尽管近几个月由于汽车制造商电池供应多元化以及经济疲软的担忧，该股在两地交易所均出现下跌，但估值溢价依然存在。分析人士称，持续的溢价部分反映了境内投资者对政策不确定性的更大谨慎，而全球基金似乎已将更强的长期增长潜力计入价格。
The valuation premium has survived even as the stock has declined on both exchanges in recent months on concerns about automakers’ battery supply diversification and a weaker economy. Analysts say the persistent gap partly reflects onshore investors’ greater caution over policy uncertainties, while global funds appear to have priced in stronger long-term growth potential.
目前市场关注点转向宁德时代将于周二发布的第三季度业绩。高盛集团预测其净利润为240亿元人民币（约36亿美元），同比增长30%，主要受强劲销售推动。瑞士银行则表示，认为股票近期回调过度的投资者正在寻找新的催化剂，包括公司匈牙利工厂的产能提升或国内乘用车销售改善。
Attention now turns to CATL’s third-quarter results due on Tuesday. Goldman Sachs Group Inc. forecasts 24 billion yuan ($3.6 billion) of net profit, representing a 30% on-year increase and driven by strong sales. UBS Group AG, meanwhile, says investors who consider the stock’s recent pullback overdone are looking for fresh catalysts including a production ramp-up at the company’s Hungarian plant or improved domestic passenger-car sales.