On April 15, CATL issued an announcement detailing a significant strategic layout in the upstream of its industry chain, while simultaneously delivering an impressive first-quarter report card for 2026.
Investing 30 Billion RMB to Establish Times Resource Group and Deepen Industry Chain Integration
To further optimize its business layout and ensure the security and stability of its supply chain, CATL plans to invest in and establish a wholly-owned subsidiary, tentatively named Times Resource Group (Xiamen) Co., Ltd.
The proposed registered capital of the subsidiary is as high as 30 billion RMB. Its planned registered address is in Xiamen City, Fujian Province, with Shu Zhiming acting as the legal representative. CATL will hold a 100% equity stake in the subsidiary.
Regarding the method of capital contribution, it will include both currency and equity. The cash portion will be sourced from the company's own and self-raised funds, while the equity portion will consist of the equity held by the company in relevant subordinate holding subsidiaries and joint-stock companies.
Times Resource Group will be positioned as CATL's professional investment, operation, and management platform in the field of new energy minerals. The company stated that this platform will center around CATL's battery industry layout and demands, integrate existing mining-related assets, and actively expand high-quality mineral resource projects both at home and abroad to safeguard raw material supplies for its main business and ensure the security of the industry chain.
To guarantee the safety and stability of upstream raw material supplies, CATL has progressively laid out plans for key new energy mineral resources such as lithium, nickel, and phosphorus. It has successively participated in multiple projects, including the Yichun lepidolite mine in Jiangxi, the Lijiagou lithium mine in Sichuan, and nickel mines in Indonesia. Simultaneously, through initiatives such as acquiring a stake in Huayou Cobalt and acquiring Canada's Millennium Lithium Corp, it is gradually building a diversified mineral supply chain system.
Previously, CATL officially hired Chen Jinghe, the founder and former chairman of Zijin Mining, as an advisor to the company's mining department to assist in expanding the upstream mineral supply chain business.
Strong Q1 2026 Performance with Revenue Exceeding 129.1 Billion RMB
Alongside the announcement of its major investment plans, CATL released its financial report for the first quarter of 2026. Benefiting from the continuous growth of its main business, the company achieved a substantial surge in its Q1 performance.
In Q1 2026, CATL realized an operating revenue of 129.1 billion RMB, a year-on-year increase of 52.45%. Among this, the net profit attributable to shareholders of the listed company reached 20.74 billion RMB, growing by 48.52% compared to the same period last year. The net profit attributable to shareholders of the listed company after deducting non-recurring gains and losses was 18.09 billion RMB, representing a year-on-year increase of 52.95%.
In terms of asset scale and cash flow, CATL also demonstrated a robust performance. By the end of the first quarter of 2026, CATL's total asset scale surpassed the one trillion mark, reaching 1.046 trillion RMB, an increase of 7.33% from the end of the previous year.
During the reporting period, the net cash flow generated from operating activities was 33.68 billion RMB, a year-on-year increase of 2.47%. Meanwhile, the company continued to invest in research and development, with Q1 R&D expenses reaching 5.31 billion RMB.
Source：EnergyTrend
