CATL forecasts YoY surge of 38.31%-48.07% in 2023 net profit attributable to shareholders

Shanghai (Gasgoo)- On January 30, Chinese power battery giant CATL disclosed its annual performance forecast for 2023, anticipating a net profit attributable to shareholders ranging between 42.5 billion yuan and 45.5 billion yuan, reflecting a year-on-year growth of 38.31% to 48.07%. After deducting non-recurring gains and losses, the net profit is projected to be between 38.5 billion yuan and 41.5 billion yuan, with a year-on-year jump of 36.46% to 47.09%.

This positive outlook is attributed to the sustained rapid growth in the domestic and international new energy industries, continuous expansion of the power battery and energy storage market, and a clear trend towards clean energy transformation under the "Dual Carbon" goals, said CATL. As a global leader in new energy innovation and technology, CATL has contributed to this growth by intensifying R&D efforts, introducing cutting-edge product solutions, and expanding services. CATL added the company's commitment to innovation has led to the successful implementation of new technologies and products, accelerated overseas market penetration, deepened customer cooperation, and achieved both rapid production and sales growth and notable economic benefits.

CATL's strategic collaborations have played a pivotal role in its success. The three-year strategic cooperation agreement signed with MHERO in early January, the new energy off-roader brand of Dongfeng Motor Group, notably features the "CATL Inside" logo on the the M-Hero 917 new energy off-road SUV model.

Further strengthening its position in the industry, CATL announced the establishment of a joint venture for battery swapping businesses with DiDi Chuxing ("DiDi"), the Chinese ride-hailing titan. The collaboration aims to rapidly deploy battery swapping stations, promote battery swappable vehicle models, enhance the operational efficiency of the public energy replenishment market, and drive the green transformation of transportation.

In addition to the joint venture, CATL has expressed a strategic cooperation intention with DiDi's subsidiary, Orange Energy, focusing on broader collaboration in areas such as energy storage and electric vehicle charging integration.