Contemporary Amperex Technology (CATL) (300750) Earnings Report: FY Net Income Surges to 44.12b Yuan, a 44% Y/Y Increase

CATL’s net income for the financial year was 44.12 billion yuan, a 44% increase from the previous year. This surpassed estimates which were set at 43.7 billion yuan.

The company’s revenue was 400.92 billion yuan, showing a 22% increase year on year. However, this was slightly below the estimated 411.06 billion yuan.

Power battery revenue reached 285.25 billion yuan, growing by 21% compared to the previous year. This figure was lower than the estimated 293.15 billion yuan.

Energy Storage revenue stood at 59.9 billion yuan, a 33% increase from the previous year. This was below the estimated revenue of 63.17 billion yuan.

Other revenue was 14.43 billion yuan, a decrease of 12% from the previous year. This was lower than the estimated 18.19 billion yuan.

Research and Development expenses were 18.36 billion yuan, an increase of 18% from the previous year. This was lower than the estimated 21.04 billion yuan.

The Power battery gross margin was 22.3%, higher than the estimated 20.6%.

EPS was 11.7790 yuan, a significant increase from 7.1553 yuan the previous year.

CATL’s net income increased by 43.6%.