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CATL logs record profit, but EV demand weakness weighs on revenue

The Chinese battery maker reported second-quarter revenue of 147.79 billion yuan and net profit of 22.5 billion yuan, and said it plans a buyback of up to 40 billion yuan.

Reported · Written up by our desk · China

Contemporary Amperex Technology Co Limited, known as CATL, posted record second-quarter results but slightly missed market estimates, with weaker electric-vehicle demand in China outweighing any benefits from a broader energy shock, according to an exchange filing reviewed by SCMP Economy.

CATL reported revenue of 147.79 billion yuan, which was modestly below the 148.6 billion yuan expected by markets, and net profit of 22.5 billion yuan, slightly under the 23.4 billion yuan profit estimate. The company said the quarter’s results rose year on year, with revenue up 56.9 percent and net profit up 36.5 percent.

For the first half of 2026, CATL reported total revenue of 276.9 billion yuan and net profit of 43.28 billion yuan, up 54.8 percent and 42.0 percent respectively versus a year earlier. In a separate filing, CATL also said it planned to use up to 40 billion yuan to repurchase 34.9 million mainland-listed shares.

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