News
Earnings Beat · EV Batteries · Global Expansion · Supply Chain
Contemporary Amperex Technology (CATL), the world's largest electric-vehicle battery maker, reported stronger-than-expected net profit of 72.20 billion yuan in 2025, an increase from 50.74 billion yuan in 2024, despite cooling EV demand in China and higher lithium prices.
CATL's fourth-quarter net profit reached 23.17 billion yuan ($3.35 billion), up from 14.74 billion yuan year-over-year, with revenue climbing 37% to 140.63 billion yuan. For the full year 2025, total revenue increased 17% to 423.70 billion yuan, surpassing Visible Alpha consensus estimates of 68.43 billion yuan profit on 430.45 billion yuan revenue.
Citi analysts stated CATL's comprehensive upstream supply chain investments and ability to pass through lithium costs contributed to its resilience. Strong overseas sales and growing demand for energy-storage systems offset the domestic EV market slowdown, driving a 25% revenue rise in its EV battery system segment.
CATL achieved a gross profit margin of 26.27% in 2025, up from 24.44% in 2024, partly due to higher margins from battery materials and recycling. Bernstein analysts project at least 30% growth for CATL this year, maintaining a positive outlook.
The company declared an annual dividend of 21.78 yuan per 10 shares and a special dividend of 47.79 yuan per 10 shares for 2025. CATL holds a 51% share of China's EV-battery industry as of January, according to the China Automotive Battery Innovation Alliance, and its new Hungarian plant, with 40 gigawatt-hours capacity, is fully booked.
CATL was added to the Hang Seng Index in March, and its shares have nearly doubled since its Hong Kong listing last May.
