- CATL achieved a net profit of 20.74 billion yuan in the first quarter, representing a 48.52% year-on-year increase.
- Despite strong annual growth, the first-quarter net profit saw a 10% quarter-on-quarter decline.
CATL reported a 48.52% year-on-year increase in its first-quarter net profit, primarily driven by the continued strong growth of its main business.
The Chinese power battery giant's net profit attributable to shareholders of the listed company reached 20.74 billion yuan ($3.04 billion) in the first three months of 2026, according to an earnings report released on Wednesday.
The company realized a revenue of 129.13 billion yuan in the first quarter, representing a 52.45% year-on-year increase.
Despite achieving strong annual growth, the first-quarter net profit saw a 10% quarter-on-quarter decline compared to the 23.167 billion yuan recorded in the fourth quarter of 2025.
After deducting non-recurring gains and losses, the net profit attributable to shareholders of the listed company was 18.09 billion yuan, marking a 52.95% increase.
CATL attributed this financial performance in its quarterly report to the continuous growth of its main business, as well as the corresponding cost increases brought by the expansion of its business scale.
The performance this quarter follows the company's record results in 2025, when its full-year net profit surged 42.28% to 72.2 billion yuan.
As the world's largest EV battery manufacturer, CATL continued to dominate the global EV battery market with a 39.2% share in 2025, according to data from South Korean market research firm SNE Research.
The company is the only battery supplier globally with a market share exceeding 30%, which has helped it consolidate its absolute leadership position in a highly competitive industry.
CATL also announced today that its board of directors has approved the establishment of a new subsidiary with a registered capital of 30 billion yuan, whose business scope includes mineral resource exploration, metal processing, and the sale of chemical products.
The subsidiary will serve as a management and operational platform in the new energy mining sector, integrating existing mining-related assets and actively expanding domestic and international resource projects, the company said in a statement.
Earlier this month, multiple media outlets reported that CATL had tapped Chen Jinghe, founder and former chairman of Zijin Mining, to serve as an advisor for its mining operations.
The 69-year-old executive, who officially retired on January 1 of this year, will serve as a senior advisor to help CATL expand its mineral supply chain business.
($1 = 6.8212 yuan)
