AsianFin -- Chinese lithium battery giant Contemporary Amperex Technology Co. Limited (CATL) on Thursday saw its A-shares climb over 5% and its H-shares rise more than 4%, with both hitting record highs.

The company’s total market capitalization exceeded 1.84 trillion yuan ($253 billion), surpassing that of Kweichow Moutai, which stands at 1.80 trillion yuan.

The strong performance reflects continued investor confidence in CATL, a leader in the electric vehicle battery sector, as demand for EVs and energy storage solutions continues to expand in China and globally.