🔴 CATL is trading 10% down after third-quarter profit missed forecasts

CATL is trading 10.05% down at THB 3.58 after third-quarter results missed expectations.

• The October 21 selloff followed profit rising 14.5% to 21.25 billion yuan, below analysts’ roughly 26 billion yuan forecast; revenue also came in below forecasts.
• Slower profit growth and margin pressure weighed despite strong sales growth. Reported factors included lower-margin product mix and higher tax costs.
• Third-quarter gross margin fell to 19.3%, according to a Citi note.