UOB Kay Hian: Cuts CATL (03750.HK) target price by 40.7% to HK$400; Q3 earnings below expectations, tax rate increase delays pass-through

Zhito Finance APP has learned that UOB Kay Hian issued a research report stating that CATL's (03750, 300750.SZ) net profit for the third quarter of 2026 fell below expectations, reporting RMB 21.25 billion, up 14.5% year-on-year and down 5.8% quarter-on-quarter. The bank maintained its "Buy" rating and lowered its H-share target price by 40.7% from HKD 675 to HKD 400, and its A-share target price by 41.4% from RMB 585 to RMB 343.