Contemporary Amperex Technology Co. Ltd. bulls are unfazed by a $100 billion market value wipeout over just four months, arguing the Chinese battery leader's technology moat makes it a clear winner in the long-term global energy transition. Its Shenzhen-listed shares have slid 34% from their May record high, tracking weakness in global electric vehicle and battery peers as investors fret over profitability and demand. CATL's selloff accelerated this week on concerns over its outlook as the domestic industry struggles with excess capacity and tough competition.

Despite the steep decline, supporters maintain that CATL's technological advantages and strategic positioning in the global energy transition will ultimately prove decisive, rendering short-term market volatility irrelevant to its long-term prospects.