CATL Falls Over 10%, A+H Market Cap Drops to 1.1 Trillion Yuan

The scale of the drawdown — more than halving from a peak set only recently — points to a repricing of expectations rather than a routine pullback, and the heavy turnover suggests conviction selling rather than thin, headline-driven noise. As a bellwether for China's new-energy complex, CATL's move carries read-across weight for suppliers and peers even when the immediate trigger isn't specified here. The open question is whether the selling reflects company-specific concerns or a broader de-rating of the sector, and whether volume stays elevated on further weakness.