China’s most bullish stock bet risks falling apart as world’s biggest Li-ion battery maker CATL makes a surprising U-turn in its two-year run

• Shares of Contemporary Amperex Technology (CATL) have reversed their sevenfold surge in the past two years to retract 18 per cent from their December 2 record
• The retracement was double the loss on Shenzhen’s ChiNext for growth companies, in which CATL is the biggest component with an 18 per cent weighting