CATL's First-Half Profit Jumps to Record High
By Bingyan Wang
Battery maker Contemporary Amperex Technology more than doubled its net profit in the first half of the year, boosted by strong revenue growth as it keeps expanding its business both at home and abroad.
CATL, the world's biggest electric-vehicle battery maker, said Thursday night that its net profit surged 154% on year in the first six months of 2023 to hit a record high of 20.7 billion yuan ($2.90 billion).
The growth was driven by a 68% rise in revenue, which jumped to CNY189.25 billion from CNY112.97 billion a year ago.
"The global new-energy vehicle market continues to grow, leading to a rapid increase in the scale of the power-battery industry," CATL said in a statement.
Write to Bingyan Wang at bingyan.wang@wsj.com
(END) Dow Jones Newswires
July 25, 2023 20:43 ET (00:43 GMT)
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