Chinese Battery Giant Contemporary Amperex Technology (CATL), PictureD Here on April 2, 2020, Broke Ground on Its First Overseas Factory in Germany in Late 2019 and Plans to add up to add up to add up to 2025.
Martin Schutt | Picture Alliance | Getty Images
China’s’S Contemporary amperex technology Posted a 9.7% Drop in Annual Revenue, A Stock Exchange Filing Showed on Friday, as a price war in the mainland electric vehicle Market ENSNARED The World’s Largest Battery Makter.
Revenue for the 12-month period ending December Came in at 362 billion yuan ($ 50.01 billion), just under a lseg meaning of 368.7 billion yuan. It marked the company’s first drop in Yearly Revenue Since the company started releving its operating Figures in 2015.
Despite the annual drop in revelation, Net Profit Went Up by 15% Year -Oyar to 50.74 Billion Yuan.
The earnings come as the company is Slated for a Listing On the Hong Kong’s Stock Exchange. Reuters Reported That deal is expected to raise at least $ 5 billion in what would be the City’s Larget Initial Public Offering Since Since Chinese Tiktok Rival Kuaishou ‘s $ 5.32 billion public offering in Early 2021.
Chinese sales of electric vehicles – a key market for catl – shifted to a higher gear last year as a mix of subsidies and consumer purchase incentives supported sales. Ev sales in china jumped 40% on year to hit 11 million vehicles in 2024, according to data from uk research firm Rho motion,
Catl-The World’s Larges Electric-Vehicle Battery Maker, Known for Producing Lower-Cost but Durable Cells-Counts Tesla, Volkswagen, Li auto, Nio As key customers and enjoy a dominant 45% market share in China last year in terms of ev battery installations, according to data from China automotive battery innovation alliance.
Shenzhen-listed catl has a market cap of 1.12 trillion yuan as of Thursday, according to data from lseg.
In January, the US department of defense put catl and chinese internet giant Tencent on its list of “Chinese Military Companies,” Which would prohibit the department from process and services from these companies starting June 2026. The “False Designation.”
The company also Sounded Caution Last Month That UncertainTies Over tariffs was also a risk to the business giving its Given its global operation.
The battery maker has posted ahead with investments overseas, including a battery factory in hungary to sell to the lines of Mercedes and Bmwas well as a joint venture With automaker Steellantis To build a lithium iron phosphatry plant in spain.
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