(Yicai Global) Jan. 13 -- Shares of Contemporary Amperex Technology rose to a nearly four-month high after the world's largest battery manufacturer which increased its market share last year said it is set to report better-than-expected profit growth for 2022.

CATL [SHE: 300750] closed 1.4 percent higher at CNY439.50 (USD65.40) after jumping as much as 4.4 percent intraday, the highest since last September.

The new energy vehicle battery supplier predicts its net profit has surged by 82.7 percent to 92.7 percent to a point between CNY29.1 billion and CNY31.5 billion (USD4.3 billion and USD4.7 billion) due to rapid growth of the global NEV industry, the Ningde-headquartered firm said in a statement yesterday.

The energy storage industry is sustaining growth and the world is accelerating its transformation toward clean energy amid low-carbon goals, the firm added. The numbers mean that CATL's fourth-quarter net profit is predicted to tally from CNY11.5 billion to CNY13.9 billion.

The profit estimate beat analysts' expectations as six months ago, 38 institutions had predicted CATL's annual gains to be CNY26.8 billion, and one month ago, the forecast was adjusted to as high as CNY28.1 billion, Securities Times reported today.

In the first 11 months of last year, CATL's installed capacity more than doubled to 165.7 gigawatt-hours from a year ago, according to data from SNE Research. Meanwhile, its global market share rose to 37.1 percent from 32.2 percent. In November, the firm's market share hit an all-time high of 40.9 percent.

Editor: Emmi Laine , Xiao Yi