AsianFin -- Shares of Contemporary Amperex Technology Co. Ltd. (CATL) climbed more than 3% in Shanghai on Monday, surpassing 280 yuan (about $38.50) to reach a new high for the year.

The rally comes as the company’s A-shares and H-shares advanced in tandem, with its Hong Kong-listed stock gaining over 4% to a fresh all-time high.

The world’s largest electric vehicle battery maker is benefiting from renewed investor optimism surrounding China’s new energy vehicle sector and a broader rebound in tech stocks.