** Shares of Chinese electric vehicle $(EV)$ battery producer CALB Group Co Ltd 3931.HK rise 4% to HK$17.5, their highest since January 2024, and on course for a fifth consecutive session of gains
** CALB expects to record net profit of 786 million-874 million yuan ($108.4 million-$120.6 million) for 2024, up 80%-100% from a year earlier
** Attributes rise to sustained business growth with improvement in economies of scale, product performance and consistently lowered costs
** CALB to invest $2.09 billion in EV battery factory in Portugal that is expected to start production in 2028
** The Hang Seng Commerce & Industry Index .HSNC gains 0.2%, the Hang Seng Tech Index .HSTECH climbs 0.4% and the Hang Seng Index .HSI adds 0.5%
** Stock up 34.7% YTD
($1 = 7.2482 Chinese yuan)
(Reporting by Donny Kwok)
((donny.kwok@thomsonreuters.com))
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