Chinese battery maker CATL posted record revenue and profit for the second quarter, though results fell slightly short of analyst expectations due to slowing domestic EV demand.
Key facts
- •CATL reported record second-quarter revenue of 147.79 billion yuan.
- •Net profit for the second quarter reached a record 22.5 billion yuan.
- •First-half revenue for 2026 totaled 276.9 billion yuan, a 54.8 per cent increase year on year.
- •The company plans to buy back 34.9 million mainland-listed shares using up to 40 billion yuan.
- •Domestic demand for electric vehicles in China has slowed following cuts to government subsidies.
Contemporary Amperex Technology Co Limited (CATL) announced record financial results for the second quarter of 2026, reporting 147.79 billion yuan in revenue and 22.5 billion yuan in net profit. Despite these record figures, the company slightly missed market estimates of 148.6 billion yuan in revenue and 23.4 billion yuan in profit. The results were released in an exchange filing on Friday evening.
By the numbers
Financial Performance and Growth
For the first half of 2026, CATL recorded total revenue of 276.9 billion yuan and a net profit of 43.28 billion yuan. These figures represent year-on-year increases of 54.8 per cent and 42 per cent, respectively. The second-quarter revenue and profit figures grew by 56.92 per cent and 36.5 per cent compared to the same period last year.
Market Challenges and Strategy
CATL is currently diversifying its business operations following a slowdown in Chinese electric vehicle demand, which the company attributed to a reduction in government subsidies. While the company has seen growth in European and other international markets, it is also moving to support its stock value. In a separate filing, the company announced plans to use up to 40 billion yuan to buy back 34.9 million mainland-listed shares.
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This article was independently rewritten by ManyPress editorial AI from reporting originally published by SCMP Business.
