Chinese Battery Giant CATL Sees Profit Surge on Energy Storage Demand
Energy-storage revenue jumped 88% to 53 billion yuan as weakening China EV demand offset gains, while CATL approved a 40 billion yuan share buyback.
- Contemporary Amperex Technology Co. Limited reported record second-quarter revenue of 147.79 billion yuan and net profit of 22.5 billion yuan on Friday, slightly missing market estimates of 148.6 billion yuan and 23.4 billion yuan, according to a Shenzhen Stock Exchange filing.
- Energy-Storage revenue jumped 88 percent to 53 billion yuan, offsetting weakening EV demand in China following reduced government subsidies, as CATL diversified its business in recent months to navigate sector challenges.
- Demand for energy storage critical to data centers is driving growth, CATL noted, as systems feature long lifespans and temperature adaptability designed for high computing power demands in AI facilities.
- In a separate filing, CATL announced plans to use up to 40 billion yuan to buy back 34.9 million mainland-listed shares, reflecting confidence in its strong financial performance.
- Founded in 2011 in Ningde, China, CATL reported first-half 2026 revenue of 276.9 billion yuan and net profit of 43 billion yuan, reflecting growth of 54.8 percent and 42 percent compared to last year.
14 Articles
14 Articles
CATL Net Profit Jumps 42% - CleanTechnica
CATL is the largest battery maker in the world. Based in China, it definitely feeds off of the ginormous electric vehicle industry in the country. However, it also quickly became a popular supplier for Western automakers as well in the past decade. Previous leaders like LG Chem (now LG Energy ... [continued] The post CATL Net Profit Jumps 42% appeared first on CleanTechnica.
The Economic Times
Times of IndiaChinese battery giant CATL sees profit surge on energy storage demand
Chinese battery giant Contemporary Amperex Technology Co. Limited (CATL) saw net profit surge 42 percent compared to the same period last year, a company filing showed Friday. CATL's net profit during the first half of the year was 43 billion yuan ($6.4 billion), the filing to the Shenzhen Stock Exchange showed, as demand for energy storage critical to the AI industry grows.
China’s CATL sees net profit rise 42% in first half
BEIJING, July 24 (Reuters) - Chinese battery giant CATL posted a 42% year-on-year rise in first-half net profit, supported by robust growth in its energy storage business that offset softer demand in the electric vehicle market. Net profit clim...
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