On the evening of July 24, Contemporary Amperex Technology Co., Limited (CATL) released its semi-annual report for 2026 and held an earnings conference. The report revealed that the company achieved an operating revenue of RMB 276.92 billion in the first half of the year, representing a year-on-year increase of 54.8%, with net profit attributable to shareholders of the parent company reaching RMB 43.284 billion, up 41.98% year-on-year.
Based on previously disclosed financial data, CATL's first-quarter net profit stood at RMB 20.738 billion. This indicates a second-quarter net profit of RMB 22.546 billion, marking a quarter-on-quarter increase of 8%.
During the reporting period, EV power batteries and energy storage batteries remained the company's primary revenue sources. Combined sales volume for power and energy storage batteries grew by approximately 60% year-on-year, with energy storage batteries accounting for about one-quarter of the total. By business segment, energy storage battery systems generated revenue of RMB 53.261 billion, up 87.54% year-on-year and accounting for 19.2% of total revenue, while power battery systems generated revenue of RMB 192.125 billion, a year-on-year growth of 46.02%, making up 69.4% of total revenue.
As its business scale expanded, CATL accelerated its capacity expansion in tandem. By the end of the reporting period, the company's effective battery system capacity reached 525 GWh, with an additional 764 GWh under construction, bringing the capacity utilization rate to 94.86% and total output to 498 GWh. During the earnings conference, the company stated that current capacity utilization is essentially saturated, and it has prepared inventory in advance while advancing capacity construction, with most under-construction projects expected to be commissioned within the next two years.
To continuously optimize its domestic and overseas production footprint, the company is currently advancing several key projects, including the Yichang Brunp Integrated Battery Material Industrial Park project, the Indonesia EV battery industry chain project, the Shandong Times New Energy Battery Industrial Base project, the Zhongzhou/Luoyang Times New Energy Battery Production Base project, and the Hungary Times New Energy Battery Industrial Base project.
Regarding the energy storage business, CATL noted in its meeting minutes that the energy storage market is expected to maintain rapid growth over this year and next. In the first half of the year, domestic energy storage sales accounted for a slightly higher proportion than overseas sales, with complete energy storage systems making up nearly 70%, and 587Ah large-capacity energy storage cells achieving large-scale delivery. Furthermore, with capacity utilization essentially saturated in the first half, the company has stocked inventory and pushed forward capacity construction to meet customer demand.
In terms of technology and product layout, CATL continues to advance diversified directions such as sodium-ion batteries and AI Data Centers (AIDC). During the reporting period, the company launched the world's first empirical, station-level sodium-ion energy storage solution featuring wide-temperature adaptability and modular design—the Tianheng Sodium-Ion Energy Storage System. It also signed a three-year strategic cooperation agreement totaling 60 GWh with Hyperstrong for sodium-ion energy storage, driving sodium-ion technology toward an industrialization inflection point. In the AIDC field, CATL believes that growing demand for AI infrastructure creates new application spaces and has incorporated related businesses into its zero-carbon strategic layout.
Additionally, the company announced plans to repurchase its A-shares through centralized bidding using its own or self-raised funds, with the total repurchase amount ranging between RMB 20 billion and RMB 40 billion, capped at RMB 573 per share.
Source：EnergyTrend
