Chinese battery giant CATL reported record second-quarter revenue of 147.79 billion yuan and net profit of 22.5 billion yuan, up 56.92% and 36.5% year-on-year respectively. However, these figures slightly missed market estimates, attributed to weakening EV demand in China. The company also announced a plan to buy back up to 40 billion yuan in shares.
Goldman Sachs forecasts a 50% surge in CATL's share price over the next 12 months, driven by rising demand for energy independence and its battery energy storage system business. The investment bank set target prices for its Hong Kong and Shenzhen stocks, anticipating significant growth.
Robin Zeng Yuqun, chairman of CATL, the world's largest EV battery maker, stated that solid-state battery technology is only at "level four" and mass production is not expected until 2030, questioning its immediate commercial viability despite widespread hype.
An ultra-fast EV charging station was completed in Abu Dhabi in six weeks, showcasing a synergy between UAE efficiency and Chinese production speed. The chairman expressed satisfaction with the development.
An ultra-fast EV charging station was completed in Abu Dhabi in just six weeks, showcasing a synergy between UAE efficiency and Chinese production speed. The chairman expressed amazement at the development.
Profit trajectories between automotive assemblers and electric vehicle (EV) battery producers in China are set to diverge further due to lacklustre car sales and buoyant demand for energy-storage systems. Leading players, including China’s EV battery king Contemporary Amperex Technology Ltd (CATL), would continue to attract buying interest in their shares, spurred by improved profitability, according to analysts. They added that flat vehicle prices, coupled with a dip in new car sales, had...
Chinese battery makers including CALB, EVE Energy and Sunwoda unveiled ultra-fast charging technology at the Beijing auto show, enabling 10-70% charges in under 10 minutes. Nio demonstrated a 3-minute battery swap, while BYD and CATL announced similar capabilities, intensifying competition to match petrol car refueling times.
CATL shares fell 6.81% Tuesday after the EV battery maker announced a $5 billion private placement in Hong Kong. The placement price of HK$628.20 compared to trading at HK$627.5, with net proceeds of roughly HK$39.1 billion. Funds will support global new-energy projects, overseas expansion, production capacity and R&D. The company posted Q1 net profit of 20.7 billion yuan, up 49% year-over-year.
CATL shares fell 8.5% Tuesday after the EV battery giant announced a roughly $5 billion equity offering in Hong Kong. The private placement seeks to raise HK$39.2 billion for global new-energy projects, R&D, and corporate purposes. The move comes as CATL reported first-quarter net profit of 20.7 billion yuan, up 49% year-over-year, with HSBC maintaining buy ratings and raising price targets.
Contemporary Amperex Technology Ltd (CATL) has taken a leap forward in commercialising sodium-ion batteries, signing a large supply contract with an energy-storage system (ESS) provider amid high demand for power infrastructure after the global oil shock. The world’s largest electric vehicle (EV) and ESS battery maker announced on Monday that it would deliver 60 gigawatt-hours (GWh) of sodium-ion batteries to Beijing HyperStrong Technology over three years in a landmark deal for the new battery...
CATL, holding over 40% global EV battery market share, announced its third-generation Shenxing battery charges from 10% to 98% in just 6 minutes 27 seconds at its Super Technology Day event in Beijing. The company claims this is the world's fastest EV charging technology, beating BYD's second-generation Blade battery which takes 9 minutes to charge from 10% to 90%. Founder Robin Zeng Yuqun emphasized focusing on innovation quality over price competition for Chinese EV expansion abroad.
Industry leaders in China are urging the government to tighten project approvals to curb overcapacity, which they claim is squeezing profits and threatening the stability of the battery and solar sectors despite rising global demand.
