Hong Kong listed China Battery Companies Stock Analysis
Price Analysis, Returns, Indexing, and Value at Risk
ML, Cursor Ai
January 01, 2026
Hong Kong listed China Battery Companies Stock Analysis
01 January 2026 - Written by ML with Cursor Ai support
Introduction
This report analyzes share prices for 8 Hong Kong-listed Chinese battery companies over the past 10 years. The analysis includes:
- Historical price data retrieval
- Return calculations
- Indexed price series (normalized to common start date)
- Visualizations (combined and faceted charts)
- Value at Risk (VaR) calculations for each battery company
- Performance comparison with the Hang Seng Index
Battery Company Ticker Reference
| Ticker | Company Name |
|---|---|
| 3750.HK | Contemporary Amperex Technology Co. Limited (CATL) |
| 3931.HK | China Aviation Lithium Battery Technology Co., Ltd. (CALB) |
| 0666.HK | REPT Battery Technology Co., Ltd. |
| 3677.HK | Jiangsu Azure Corporation Limited |
| 6960.HK | Shuangdeng Group Co., Ltd. |
| 2579.HK | CNGR Advanced Material Co., Ltd. |
| 3919.HK | Golden Power |
| 0040.HK | GoldPeak |
Data Fetching
## Fetching data for 8 battery companies...## Date range: 2016-01-01 to 2026-01-01## Fetching 3750.HK ... OK
## Fetching 3931.HK ... OK
## Fetching 0666.HK ... OK
## Fetching 3677.HK ...## OK
## Fetching 6960.HK ... OK
## Fetching 2579.HK ... OK
## Fetching 3919.HK ... OK
## Fetching 0040.HK ... OK##
## Successfully fetched data for 8 out of 8 tickers.## Total observations: 6670## Date range: 2016-01-04 to 2025-12-31Data Summary:
| Ticker | Company Name | Start Date | End Date | Obs | First Price | Last Price |
|---|---|---|---|---|---|---|
| 0040.HK | GoldPeak | 2016-01-04 | 2025-12-31 | 2462 | 0.65 | 0.77 |
| 0666.HK | REPT Battery Technology Co., Ltd. | 2023-12-18 | 2025-12-31 | 500 | 18.78 | 13.20 |
| 2579.HK | CNGR Advanced Material Co., Ltd. | 2025-11-17 | 2025-12-31 | 31 | 33.96 | 32.94 |
| 3677.HK | Jiangsu Azure Corporation Limited | 2025-04-14 | 2025-12-31 | 177 | 8.39 | 8.34 |
| 3750.HK | Contemporary Amperex Technology Co. Limited (CATL) | 2025-05-20 | 2025-12-31 | 156 | 305.39 | 505.50 |
| 3919.HK | Golden Power | 2016-01-04 | 2025-12-31 | 2462 | 15.61 | 1.21 |
| 3931.HK | China Aviation Lithium Battery Technology Co., Ltd. (CALB) | 2022-10-06 | 2025-12-31 | 795 | 38.00 | 25.10 |
| 6960.HK | Shuangdeng Group Co., Ltd. | 2025-08-26 | 2025-12-31 | 87 | 19.05 | 15.41 |
Calculate Returns
## Calculated returns for 8 battery companies.## Total return observations: 6662Returns Summary:
| Ticker | Company Name | Mean | Std Dev | Min | Max |
|---|---|---|---|---|---|
| 0040.HK | GoldPeak | 0.007 | 2.171 | -17.979 | 16.430 |
| 0666.HK | REPT Battery Technology Co., Ltd. | -0.071 | 3.552 | -16.680 | 34.323 |
| 2579.HK | CNGR Advanced Material Co., Ltd. | -0.102 | 3.971 | -6.899 | 9.213 |
| 3677.HK | Jiangsu Azure Corporation Limited | -0.003 | 2.643 | -9.633 | 10.828 |
| 3750.HK | Contemporary Amperex Technology Co. Limited (CATL) | 0.325 | 2.592 | -7.972 | 9.703 |
| 3919.HK | Golden Power | -0.104 | 4.780 | -55.257 | 32.405 |
| 3931.HK | China Aviation Lithium Battery Technology Co., Ltd. (CALB) | -0.052 | 4.026 | -42.429 | 19.907 |
| 6960.HK | Shuangdeng Group Co., Ltd. | -0.247 | 4.526 | -10.765 | 13.668 |
Index to Common Start Date
## Common start date: 2025-11-17## Indexed prices to common start date.## Total indexed observations: 248## Number of battery companies: 8Indexed Prices Preview:
| Ticker | Date | Price | Index |
|---|---|---|---|
| 0040.HK | 2025-11-17 | 0.70 | 100.00 |
| 0040.HK | 2025-11-18 | 0.72 | 102.78 |
| 0040.HK | 2025-11-19 | 0.74 | 105.56 |
| 0040.HK | 2025-11-20 | 0.74 | 105.56 |
| 0040.HK | 2025-11-21 | 0.74 | 105.56 |
| 0666.HK | 2025-11-17 | 16.40 | 100.00 |
| 0666.HK | 2025-11-18 | 15.25 | 92.99 |
| 0666.HK | 2025-11-19 | 15.11 | 92.13 |
| 0666.HK | 2025-11-20 | 14.59 | 88.96 |
| 0666.HK | 2025-11-21 | 14.20 | 86.59 |
| 2579.HK | 2025-11-17 | 33.96 | 100.00 |
| 2579.HK | 2025-11-18 | 32.40 | 95.41 |
| 2579.HK | 2025-11-19 | 30.24 | 89.05 |
| 2579.HK | 2025-11-20 | 30.30 | 89.22 |
| 2579.HK | 2025-11-21 | 28.56 | 84.10 |
| 3677.HK | 2025-11-17 | 9.38 | 100.00 |
| 3677.HK | 2025-11-18 | 9.16 | 97.65 |
| 3677.HK | 2025-11-19 | 9.15 | 97.55 |
| 3677.HK | 2025-11-20 | 9.05 | 96.48 |
| 3677.HK | 2025-11-21 | 9.00 | 95.95 |
| 3750.HK | 2025-11-17 | 526.00 | 100.00 |
| 3750.HK | 2025-11-18 | 504.00 | 95.82 |
| 3750.HK | 2025-11-19 | 512.00 | 97.34 |
| 3750.HK | 2025-11-20 | 483.00 | 91.83 |
| 3750.HK | 2025-11-21 | 465.00 | 88.40 |
| 3919.HK | 2025-11-17 | 1.66 | 100.00 |
| 3919.HK | 2025-11-18 | 1.45 | 87.35 |
| 3919.HK | 2025-11-19 | 1.44 | 86.75 |
| 3919.HK | 2025-11-20 | 1.44 | 86.75 |
| 3919.HK | 2025-11-21 | 1.44 | 86.75 |
| 3931.HK | 2025-11-17 | 33.32 | 100.00 |
| 3931.HK | 2025-11-18 | 30.56 | 91.72 |
| 3931.HK | 2025-11-19 | 30.14 | 90.46 |
| 3931.HK | 2025-11-20 | 29.22 | 87.70 |
| 3931.HK | 2025-11-21 | 28.00 | 84.03 |
| 6960.HK | 2025-11-17 | 18.74 | 100.00 |
| 6960.HK | 2025-11-18 | 18.28 | 97.55 |
| 6960.HK | 2025-11-19 | 17.82 | 95.09 |
| 6960.HK | 2025-11-20 | 18.00 | 96.05 |
| 6960.HK | 2025-11-21 | 16.83 | 89.81 |
Performance Analysis
Fetch Hang Seng Index Data
## Fetching Hang Seng Index data from 2024-12-01 to 2026-01-01 ...## ✓ Successfully fetched Hang Seng Index data
## Date range: 2024-12-02 to 2025-12-31
## Total observations: 266
## ✓ YTD start date (2025-01-01) data available
## Actual date used: 2024-12-31
## Price on that date: 20059.95Calculate Performance Metrics
## Reference dates:## Latest (most recent trading day): 2025-12-31## 1 month ago: 2025-12-01## 3 months ago: 2025-10-02## YTD start: 2025-01-01## Hang Seng Index prices (using nearest available trading day):## Latest: 25630.54 on 2025-12-31 (target: 2025-12-31 )## 1M: 26033.26 on 2025-12-01 (target: 2025-12-01 )## 3M: 27287.12 on 2025-10-02 (target: 2025-10-02 )## YTD: 20059.95 on 2024-12-31 (target: 2025-01-01 )## Sample stock: 3750.HK
## Latest price: 505.5 on 2025-12-31
## 1M price: 483 on or before 2025-12-01
## 3M price: 605.5 on or before 2025-10-02
## YTD price: NA on or before 2025-01-01
## Available date range: 2025-05-20 to 2025-12-31## Performance data calculated for 9 stocks plus Hang Seng IndexAbsolute Performance Table
| Ticker | Company Name | Latest Price | 1 Month Ago | 3 Months Ago | YTD Start | 1M Change (%) | 3M Change (%) | YTD Change (%) |
|---|---|---|---|---|---|---|---|---|
| 3931.HK | China Aviation Lithium Battery Technology Co., Ltd. (CALB) | 25.10 | 28.20 | 36.10 | 12.86 | -10.99 | -30.47 | 95.18 |
| 0040.HK | GoldPeak | 0.77 | 0.75 | 0.66 | 0.48 | 2.46 | 16.02 | 60.11 |
| ^HSI | Hang Seng Index | 25630.54 | 26033.26 | 27287.12 | 20059.95 | -1.55 | -6.07 | 27.77 |
| 0666.HK | REPT Battery Technology Co., Ltd. | 13.20 | 13.60 | 16.00 | 11.28 | -2.94 | -17.50 | 17.02 |
| 3919.HK | Golden Power | 1.21 | 1.24 | 1.20 | 1.14 | -2.42 | 0.83 | 6.14 |
| 3750.HK | Contemporary Amperex Technology Co. Limited (CATL) | 505.50 | 483.00 | 605.50 | NA | 4.66 | -16.52 | NA |
| 3677.HK | Jiangsu Azure Corporation Limited | 8.34 | 9.00 | 12.03 | NA | -7.33 | -30.67 | NA |
| 6960.HK | Shuangdeng Group Co., Ltd. | 15.41 | 16.90 | 19.99 | NA | -8.82 | -22.91 | NA |
| 2579.HK | CNGR Advanced Material Co., Ltd. | 32.94 | 28.88 | NA | NA | 14.06 | NA | NA |
Relative Performance Table
| Ticker | Company Name | 1M vs HSI (%) | 3M vs HSI (%) | YTD vs HSI (%) |
|---|---|---|---|---|
| 3931.HK | China Aviation Lithium Battery Technology Co., Ltd. (CALB) | -9.45 | -24.40 | 67.41 |
| 0040.HK | GoldPeak | 4.01 | 22.09 | 32.34 |
| 0666.HK | REPT Battery Technology Co., Ltd. | -1.39 | -11.43 | -10.75 |
| 3919.HK | Golden Power | -0.87 | 6.90 | -21.63 |
| 3750.HK | Contemporary Amperex Technology Co. Limited (CATL) | 6.21 | -10.44 | NA |
| 3677.HK | Jiangsu Azure Corporation Limited | -5.79 | -24.60 | NA |
| 6960.HK | Shuangdeng Group Co., Ltd. | -7.27 | -16.84 | NA |
| 2579.HK | CNGR Advanced Material Co., Ltd. | 15.61 | NA | NA |
Interpretation: - Absolute Performance: Shows the actual price changes for each stock and the Hang Seng Index - Relative Performance: Shows how each stock performed relative to the Hang Seng Index - Positive values indicate the stock outperformed the index - Negative values indicate the stock underperformed the index
Visualization: All Battery Companies on One Chart
Visualization: Faceted Charts
Value at Risk (VaR) Calculation
Following the methodology from the VaR teaching guide, we calculate 1-year historical VaR at 95% confidence level for each battery company.
VaR Calculation Function
Calculate VaR for All Battery Companies
## Calculating VaR for all battery companies...## Processing 3750.HK ... FAILED
## Processing 3931.HK ... VaR = 58.19 %
## Processing 0666.HK ... VaR = 54.25 %
## Processing 3677.HK ... FAILED
## Processing 6960.HK ... FAILED
## Processing 2579.HK ... FAILED
## Processing 3919.HK ... VaR = 94.03 %
## Processing 0040.HK ... VaR = 25.13 %##
## VaR calculation complete for 4 battery companies.VaR Results Table
| Ticker | Company Name | VaR (%) | CI Lower (%) | CI Upper (%) | Obs | Start Date | End Date |
|---|---|---|---|---|---|---|---|
| 3919.HK | Golden Power | 94.03 | 90.44 | 96.79 | 2210 | 2016-01-04 | 2025-12-31 |
| 3931.HK | China Aviation Lithium Battery Technology Co., Ltd. (CALB) | 58.19 | 51.24 | 64.71 | 543 | 2022-10-06 | 2025-12-31 |
| 0666.HK | REPT Battery Technology Co., Ltd. | 54.25 | 49.07 | 58.42 | 248 | 2023-12-18 | 2025-12-31 |
| 0040.HK | GoldPeak | 25.13 | 23.21 | 27.14 | 2210 | 2016-01-04 | 2025-12-31 |
VaR Visualization
Detailed VaR Analysis Charts
For each battery company, we provide comprehensive four-panel charts showing price, rolling annual returns, daily returns, and return distribution.
Summary
Key Findings
Data Coverage: - Successfully retrieved data for 8 out of 8 battery companies - Analysis period: 10 years (from 2025-11-17 to 2025-12-31)
Risk Analysis: - VaR calculated at 95% confidence level (1-year historical VaR) - Highest VaR: 94.03% (3919.HK) - Lowest VaR: 25.13% (0040.HK) - Average VaR: 57.9%
Interpretation: - VaR represents the maximum expected loss at the specified confidence level - For example, a VaR of 30% means that in the worst 5% of 1-year periods, losses were 30% or worse - Higher VaR indicates higher risk (more volatile returns)
Methodology
- Data Retrieval: Historical adjusted closing prices from Yahoo Finance
- Returns Calculation: Log returns (log price differences)
- Indexing: Normalized to 100 at common start date for comparison
- VaR Calculation:
- Rolling 252-trading-day (1-year) returns
- 5th percentile of annual return distribution
- Bootstrap confidence intervals (1000 iterations)
Analysis generated on 2026-01-01 using R version R version 4.5.1 (2025-06-13)