China Launches Probe into Ronbay's CATL Deal Disclosures

Shares of Ningbo Ronbay New Energy Technology Co. dropped after the Chinese regulator launched a probe into suspected misleading statements about its contract with top battery maker Contemporary Amperex Technology Co. Ltd. The China Securities Regulatory Commission said it is investigating a Jan. 14 filing made by Ronbay — a producer of cathode materials — which was a supply agreementBloomberg Terminal worth over 120 billion yuan ($17 billion) for lithium-iron-phosphate (LFP) materials, according to a statement on Sunday.