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CATL’s first half revenue almost equal to the entire South Korean battery industry

According to BusinessKorea, China’s largest battery manufacturer CATL is ushering in explosive growth, and its revenue in the first half of the year is close to that of the entire Korean battery industry.


▲ Picture source CATL official website

It was previously reported that CATL’ operating income in the first half of the year was 189.25 billion yuan, a year-on-year increase of 67.52%, and the net profit attributable to shareholders of listed companies was 20.717 billion yuan, a year-on-year increase of 153.64%, with a basic earnings per share of 4.7201 yuan per share.

Judging from the sales in the first half of this year, CATL is almost equivalent to the total revenue of South Korea’s three leading battery companies LG Energy Solution, Samsung SDI and SK Innovation. 200.017 billion yuan). It is worth noting that the operating profit of CATL is three times that of the sum of Korean companies, which shows that CATL not only has an advantage in scale, but also has an advantage in profitability.

In the first half of the year, CATL’s sales of electric vehicle battery business increased by 76.2% year-on-year to 139.442 billion yuan. Sales in the field of energy storage devices (ESS) also doubled compared with the same period last year, reaching 27.985 billion yuan.

According to data from market research firm SNE Research, as of the end of May, CATL had a 36.3% share of the global electric vehicle battery market, significantly ahead of BYD (16.1%) and LG Energy Solution (13.9%). In addition, CATL overseas sales in the first half of the year reached 67.169 billion yuan, accounting for 35.5% of total sales, which shows that the company not only leads the domestic market, but also performs strongly globally.

Industry insiders said: “With the intensification of competition in the domestic market, CATL is paying more and more attention to the global market. The company’s goal is to become the Apple of the battery industry, surpassing mere battery manufacturers, leading the development direction of the battery industry, and its electric ships. The establishment of the business subsidiary is a testament to this.”

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James Lopez
James Lopezhttps://www.techgoing.com
James Lopez joined Techgoing as Senior News Editor in 2022. He's been a tech blogger since before the word was invented, and will never log off.

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