"Strong Production and Sales" CATL's Q1 Net Profit Reached Approximately 14 Billion Yuan, Up Over 30% YoY

Leading battery manufacturer CATL (300750.SZ) maintained strong growth in Q1 this year, with net profit up over 30% YoY despite a slight increase in revenue. According to information obtained by Cailian Press from CATL, the company's capacity utilization rate has been high this year, with both production and sales thriving.

CATL (300750.SZ) announced that in Q1 this year, the company achieved revenue of 84.705 billion yuan, up 6.18% YoY, and net profit attributable to shareholders of the publicly listed firm reached 13.963 billion yuan, up 32.85% YoY. After five consecutive quarters of YoY revenue decline, the company's revenue finally returned to positive YoY growth in Q1 this year.

Meanwhile, the company's financial expenses in Q1 turned from 313 million yuan in the same period last year to -2.288 billion yuan (net income), down 831.10% YoY. CATL disclosed in its annual report that this was mainly due to the positive impact of exchange rate fluctuations on its foreign currency monetary items, which may have contributed to the company's profit to some extent.

In terms of market share, CATL continues to rank first in the global power battery market. According to data from SNE Research, CATL's global market share was about 38.2% in the first two months of 2025. In the European market, CATL's market share reached 43%, up 8 percentage points YoY.

In the power market, according to data from the China Automotive Power Battery Industry Innovation Alliance, from January to March, China's cumulative sales of power and other batteries reached 285.8 GWh, up 73.7% YoY. Among them, cumulative sales of power batteries reached 217.3 GWh, accounting for 76.0% of total sales, up 51.3% YoY.

In the energy storage market, CATL has become the preferred battery energy storage system supplier for the UAE's RTC 19 GWh 8-hour data center project. The EnerQB, the world's first 8-hour battery energy storage system developed in collaboration with Quinbrook, will be deployed in Australia with a total capacity of 24 GWh.

Since Q1 this year, CATL's battery swapping business layout seems to have accelerated. Recently, the company signed a cooperation framework agreement with Sinopec Group, planning to jointly build no less than 500 battery swapping stations by 2025, with a long-term goal of expanding to 10,000 stations, jointly promoting the standardization of battery swapping. Additionally, CATL signed a strategic cooperation agreement with NIO to jointly build the world's largest and most technologically advanced passenger vehicle battery swapping service network.

At the end of last year, CATL announced a new battery swapping plan, aiming to build 1,000 chocolate battery swapping stations by 2025 and enter the Hong Kong and Macau markets. Under the plan, the company will collaborate with various partners to build 10,000 stations. As the battery swapping ecosystem grows, the ultimate scale of chocolate battery swapping stations will reach 30,000.

Furthermore, CATL's H-share listing process is accelerating. The company received the "Notice of Filing for Overseas Issuance and Listing" from the China Securities Regulatory Commission on March 25, 2025, and passed the listing hearing of the Hong Kong Stock Exchange on April 10.