Co-founder of Chinese EV battery giant pockets US$239 million windfall from 1% stake sale

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engineer-turned-entrepreneur agreed to offload 45.6 million yuan-denominated A shares to 16 corporate and institutional investors at 376.12 yuan (US$52.92) apiece, according to a filing by CATL to the Shenzhen Stock Exchange. The billionaire still holds more than 9 per cent of the company after the share sale.CATL, listed in both Shenzhen and Hong Kong, saw its mainland-traded shares advance 46 per cent this year, buoyed by its improved technological strength and accelerated overseas expansion. The transaction price represents a 0.9 per cent discount to CATL's closing price of 379.39 yuan on Thursday.Do you have questions about the biggest topics and trends from around the world? Get the answers with SCMP Knowledge, our new platform of curated content with explainers, FAQs, analyses and infographics brought to you by our award-winning team.In Hong Kong, the EV battery giant raised US$5.22 billion in May through the world's largest initial public offering this year. Its H shares had since jumped 84 per cent from the offer price, closing at HK$483 on Thursday.CATL's stock is buoyed by its improved technological strength and accelerated overseas expansion. Photo: Reuters alt=CATL's stock is buoyed by its improved technological strength and accelerated overseas expansion. Photo: Reuters>"CATL is one of the top winners among Chinese manufacturers over the past decade as its batteries are powering more than one-third of electric cars around the world," said Ding Haifeng, a consultant at Shanghai-based financial ­advisory firm Integrity. "Huang, as one of the major shareholders, has reasons to cheer for his successful career after building the company into a global EV battery powerhouse."Born in 1967, Huang was a key founding member of CATL - alongside chairman Robin Zeng Yuqu, the company's largest shareholder - in Ningde, eastern China's Fujian province. A graduate of Hefei University of Technology, Huang focused on research and development (R&D) involving batteries at a new energy firm in Dongguan, southern Guangdong province, before taking charge of R&D at CATL. He served in different roles in the company, including general manager and vice-chairman.CATL said earlier this week that Huang had relinquished his role at the company and was no longer an employee.Terms and Privacy PolicyPrivacy & Cookie SettingsMore InfoS&P 5006,602.99 +64.23 (+0.98%)Dow 3046,245.41 +493.15 (+1.08%)Nasdaq22,273.08 +195.03 (+0.88%)Russell 20002,369.59 +64.48 (+2.80%)VIX23.43 -2.99 (-11.32%)Gold4,079.50 +19.50 (+0.48%)PortfolioSign in to access your portfolioSign inTop gainersBLLN BillionToOne, Inc. 110.00 +14.32 (+14.97%)ADPT Adaptive Biotechnologies Corporation 18.61 +2.29 (+14.03%)KYIV Kyivstar Group Ltd. 12.93 +1.41 (+12.24%)CAVA CAVA Group, Inc. 48.92 +5.33 (+12.23%)HTFL Heartflow, Inc. 30.85 +3.18 (+11.49%)Top losersESTC Elastic N.V. 70.04 -12.04 (-14.67%)VEEV Veeva Systems Inc. 244.06 -26.44 (-9.77%)POST Post Holdings, Inc. 99.42 -7.66 (-7.15%)FRMI Fermi Inc. 14.34 -1.07 (-6.94%)MENS Jyong Biotech Ltd. 30.74 -2.06 (-6.28%)Most activeNVDA NVIDIA Corporation 178.88 -1.76 (-0.97%)OPEN Opendoor Technologies Inc. 6.75 +0.59 (+9.58%)ONDS Ondas Holdings Inc. 6.74 +0.47 (+7.42%)PLUG Plug Power Inc. 1.9800 +0.0900 (+4.76%)TSLA Tesla, Inc. 391.09 -3.96 (-1.00%)Earnings eventsMy earnings eventsEarnings eventsTrending tickersBTC-USD Bitcoin USD 83,672.24 +1,123.48 (+1.36%)ETH-USD Ethereum USD 2,711.94 +18.71 (+0.69%)XRP-USD XRP USD 1.90 +0.00 (+0.24%)^GSPC S&P 500 6,602.99 +64.23 (+0.98%)^DJI Dow Jones Industrial Average 46,245.41 +493.15 (+1.08%)Top economic events