TrendForce has learned that on July 26, CATL released its financial results for the first half of 2024. According to the semi-annual report, CATL achieved a total revenue of 166.767 billion yuan in the first half of the year, a year-on-year decrease of 11.88%, and net profit was 22.865 billion yuan, a year-on-year increase of 10.37%.

In the field of power batteries, according to SNE Research data, CATL ranked first in the world in power battery usage for seven consecutive years from 2017 to 2023. The global market share of CATL's power battery usage from January to May 2024 was 37.5%, an increase of 2.3 percentage points over the same period last year, still ranking first in the world.

In the field of energy storage, according to SNE Research data, CATL ranked first in the world in terms of energy storage battery shipments for three consecutive years from 2021 to 2023. From January to June 2024, according to the statistics of relevant institutions, the company's energy storage battery shipments continued to maintain the world's largest market share.

In terms of energy storage business, benefiting from factors such as the acceleration of renewable energy transformation in various countries, energy storage policies and market environment optimization, the global energy storage market demand continues to grow.

According to the report, CATL's energy storage revenue in the first half of 2024 will be 28.825 billion yuan, a year-on-year increase of 3%. From the perspective of gross profit margin, the gross profit margin of the energy storage business was 28.87%, which was the highest among the four main businesses of CATL.

CATL said it is steadily advancing the construction of battery production capacity to meet global customer order delivery needs.

On the domestic front, CATL is now smoothly promoting the construction of its Zhongzhou base, Guiyang base, Xiamen base, etc.. Part of the production lines of the Xiamen and Guiyang bases have been put into operation, and the construction of the Beijing base will be officially launched in June 2024.

Overseas, CATL German factory has obtained the dual certification of Volkswagen Group's module testing laboratory and electric core testing laboratory, becoming the first battery manufacturer in the world to obtain Volkswagen Group's module certification and the first battery manufacturer in Europe to obtain Volkswagen Group's electric core certification. Hungary's factory has already completed the roofing of part of the plant and debugging of the equipments, and the relevant construction work is in an orderly progress.

Source:TrendForce