On April 16, CATL released its first-quarter report: revenue reached 129.131 billion yuan, up 52.45% year-on-year, exceeding 100 billion yuan in a single quarter for the first time. Net profit attributable to shareholders hit 20.738 billion yuan, up 48.52% year-on-year, significantly exceeding market forecasts. Total shipments exceeded 200 GWh, with energy storage accounting for 25%, doubling year-on-year and becoming a new growth engine. Domestic power battery installations reached 59.53 GWh, with a market share of 47.72%, rising for the first time in nearly three years, solidifying its leading position.

On the same day, CATL announced plans to establish “Times Resources Group” with a registered capital of 30 billion yuan, fully deploying lithium, nickel, cobalt and other upstream key raw materials to strengthen industrial chain and supply chain security. The company will hold a “Super Tech Day” on April 21, where it is expected to unveil next-generation battery technologies and energy storage solutions, sparking market anticipation.

Industry analysts attributed the strong earnings to the recovery of global NEV sales and booming energy storage demand. Global power battery installations rose more than 30% year-on-year in Q1. Backed by technological advantages and cost control, CATL continued to expand its market share. With improved upstream layout, upcoming new technologies and accelerated overseas expansion, the company is expected to maintain high growth for the full year, boosting the new energy battery industrial chain.