(Yicai Global) Jan. 22 -- Leading Chinese electric vehicle battery supplier Contemporary Amperex Technology's stock [SHE:300750] hit the daily price ceiling after the firm estimated a 20-45 percent profit growth in its annual report it previewed yesterday.

Fujian province-based CATL's shares streaked to the 10 percent limit set by bourse rules by 1.44 p.m. at a price of CNY133.82 (USD19.40) and a market value of CNY295.5 billion. The firm expected to turn a profit of CNY4.1 billion-CNY4.9 billion last year, compared to CNY3.4 billion in 2018.

The EV-related sectors in China's mainland stock markets all surged today, spurred by the strong performance of US EV giant Tesla [NASDAQ:TSLA], whose market value surpassed USD100 billion for the first time in extended trading yesterday.

Editor: Ben Armour