---
endpoint: analytics
pattern: Energy
status: done
latency_ms: 112712
conversation_id: 7e9d19d2-eb9f-41fe-b147-4c4387818260
citations: 5
created: 2026-05-31 22:01:07Z
---

# Who are the key shareholders of CATL?

# CATL (Contemporary Amperex Technology Co., Ltd. — 300750.SZ / 3750.HK) — Key Shareholders

Based on CATL's Q3 2025 Quarterly Report (filed October 20, 2025), the company had **227,474 total ordinary shareholders** (227,422 A-share holders and 52 H-share registered holders) at quarter-end [5]. Below are the top 10 ordinary shareholders.

## Top 10 Shareholders (as of Sep 30, 2025)

| # | Shareholder | Nature | % Held | Shares Held |
|---|---|---|---|---|
| 1 | **Xiamen Ruiting Investment Co., Ltd.** | Domestic legal person | **22.46%** | 1,024,704,949 [1] |
| 2 | **Hong Kong Securities Clearing Co. Ltd.** (Stock Connect / Northbound) | Foreign legal person | **14.48%** | 660,844,057 [1] |
| 3 | **Huang Shilin** (黄世霖, co-founder, former Vice Chairman) | Domestic natural person | **10.21%** | 466,021,310 [2] |
| 4 | **Ningbo United Innovation of New Energy Investment Management Partnership (LP)** | Domestic legal person | **6.23%** | 284,220,608 [2] |
| 5 | **Li Ping** (李平, Executive Director / co-founder) | Domestic natural person | **4.33%** | 197,460,277 [2] |
| 6 | **HKSCC Nominees Limited** (H-share custody) | Foreign legal person | **3.42%** | 155,907,990 [2] |
| 7 | ICBC – E Fund GEM ETF (易方达创业板ETF) | Fund | **1.20%** | 54,859,995 [3] |
| 8 | ICBC – Huatai-PineBridge CSI 300 ETF (华泰柏瑞沪深300 ETF) | Fund | **0.99%** | 44,981,592 [3] |
| 9 | **Honda Motor (China) Investment Co., Ltd.** (本田技研工业(中国)投资) | Domestic legal person (strategic) | **0.91%** | 41,400,000 [3] |
| 10 | CCB – E Fund CSI 300 ETF (易方达沪深300 ETF) | Fund | **0.71%** | 32,517,736 [3] |

## Shareholder Profile and Key Takeaways

**1. Founder/Insider Bloc — the dominant control group.** The "concert party" around founder/Chairman Robin Zeng (Zeng Yuqun, 曾毓群) controls the company through a combination of personal holdings and the Xiamen Ruiting investment vehicle:
- **Xiamen Ruiting Investment Co., Ltd.** (22.46%) — Robin Zeng's primary personal holding vehicle; it is the single largest shareholder and is widely understood as the founder's controlling vehicle [1].
- **Huang Shilin** (10.21%) — co-founder and former Vice Chairman; his stake is large enough that the restricted-share lock-up schedule for senior management is a structural feature of the cap table, with quarterly disclosures around staged release [2].
- **Li Ping** (4.33%) — Executive Director and co-founder; 151.1 million of his shares are subject to trading restrictions, with 27.9 million pledged [2].
- **Robin Zeng (Zeng Yuqun)** — Chairman of the Board, Executive Director, and General Manager. The Board comprises Zeng as chairman; Pan Jian, Li Ping, Zhou Jia, Ouyang Chuying, and Zhao Fenggang as executive Directors; and Wu Yuhui, Lin Xiaoxiong, and Zhao Bei as independent non-executive Directors [4].

Combined, the **founder/management bloc (Ruiting + Huang + Li Ping) controls ~37%** of the share capital — a clear controlling group, even though no single entity crosses the 30% threshold.

**2. Foreign / International Ownership (~18% combined).** Two foreign-channel positions show how international capital reaches CATL:
- **Hong Kong Securities Clearing Co. Ltd.** (14.48%) — this is the Stock Connect / Northbound nominee account through which international investors hold A-shares; the 14.48% figure is a proxy for foreign holdings on the Shenzhen-listed line [1].
- **HKSCC Nominees Limited** (3.42%) — custody nominee for CATL's Hong Kong H-shares (3750.HK), which began trading in 2025 [2]. The H-share IPO in 2025 was the source of the RMB39.6bn (33.92% YoY) jump in capital reserve disclosed in the same filing.

**3. Strategic Industrial Partner — Honda (0.91%).** Honda Motor (China) Investment is the only top-10 holder that is a direct industrial/strategic partner; the stake (41.4M shares) reflects the OEM-supplier relationship rather than a financial position [3].

**4. Domestic Investment Partnership — Ningbo United Innovation (6.23%).** Ningbo United Innovation of New Energy Investment Management Partnership (Limited Partnership) is an employee/management-aligned investment partnership and ranks as the fourth-largest holder [2].

**5. Index/ETF Ownership.** Three large CSI 300 / ChiNext ETF positions appear in the top 10 (ICBC–E Fund GEM ETF, ICBC–Huatai-PineBridge CSI 300 ETF, CCB–E Fund CSI 300 ETF), reflecting CATL's index inclusion in China's large-cap benchmarks; combined ETF holdings in the top 10 sum to roughly 2.9% [3].

## Concentration & Control Summary

| Bloc | Combined % |
|---|---|
| Founder + Insider bloc (Ruiting + Huang Shilin + Li Ping) | ~37.0% |
| Foreign channels (HKSC A-share + HKSCC H-share nominees) | ~17.9% |
| Ningbo United Innovation (employee/management LP) | 6.23% |
| Honda (strategic OEM partner) | 0.91% |
| Top-10 domestic CSI 300 / ChiNext ETFs (in top-10) | ~2.9% |
| **Top-10 total** | **~64.94%** |

The cap table is **founder-controlled, with sizeable foreign passive participation via Stock Connect and the 2025 H-share listing**, plus a strategic auto-OEM presence (Honda) and meaningful domestic index-fund ownership. There is no single >30% shareholder, but the Robin Zeng-led concert party effectively controls the company through the Xiamen Ruiting vehicle and the founder/director personal stakes.

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**Sources**
[1] Contemporary Amperex Technology Co., Limited — Q3 2025 Interim Report (Oct 20, 2025) — Top 10 shareholders table (Xiamen Ruiting, HKSC)
[2] Contemporary Amperex Technology Co., Limited — Q3 2025 Interim Report (Oct 20, 2025) — Top 10 shareholders table (Huang Shilin, Ningbo United Innovation, Li Ping, HKSCC Nominees)
[3] Contemporary Amperex Technology Co., Limited — Q3 2025 Interim Report (Oct 20, 2025) — Top 10 shareholders table (ETFs, Honda Motor China)
[4] Contemporary Amperex Technology Co., Limited — Q3 2025 Interim Report (Oct 20, 2025) — Board composition (Zeng Yuqun, Chairman)
[5] Contemporary Amperex Technology Co., Limited — Q3 2025 Interim Report (Oct 20, 2025) — Total shareholder count (A-share + H-share)

## Citations

- [1] **Contemporary_Amperex_Technology_Co_Limited-Interim_Report(Oct-20-2025).pdf** · external
- [2] **Contemporary_Amperex_Technology_Co_Limited-Interim_Report(Oct-20-2025).pdf** · external
- [3] **Contemporary_Amperex_Technology_Co_Limited-Interim_Report(Oct-20-2025).pdf** · external
- [4] **Contemporary_Amperex_Technology_Co_Limited-Interim_Report(Oct-20-2025).pdf** · external
- [5] **Contemporary_Amperex_Technology_Co_Limited-Interim_Report(Oct-20-2025).pdf** · external

