Contemporary Amperex Technology Co., Limited (CATL) reported a 48.52% year-over-year increase in first-quarter net profit, driven by robust demand for its core battery products. Net profit attributable to shareholders reached 20.74 billion yuan (approximately US $3.04 billion) in the first three months of 2026, according to the company’s quarterly earnings report. Revenue rose 52.45% year over year to 129.13 billion yuan.
Despite strong annual growth, net profit declined by about 10% from the 23.17 billion yuan recorded in the fourth quarter of 2025. After excluding non-recurring gains and losses, adjusted net profit reached 18.09 billion yuan, marking a 52.95% increase compared with the first quarter of 2025. CATL attributed these results to the continued expansion of its primary business activities, as well as higher costs associated with scaling up operations.
These quarterly figures follow CATL’s record full-year performance in 2025, when net profit surged 42.28% to 72.2 billion yuan. As the world’s largest electric-vehicle battery manufacturer, CATL held a 39.2% share of the global EV battery market in 2025, based on data from SNE Research. It remains the only supplier with a market share above 30%, solidifying its leading position in a highly competitive sector.
In its first-quarter filing, CATL also announced board approval for a new subsidiary with 30 billion yuan in registered capital. The entity will focus on mineral resource exploration, metal processing, and chemical product sales, serving as a management and operational platform for the company’s new energy mining activities. CATL plans to integrate existing mining assets and pursue domestic and international resource projects through this vehicle.
Earlier this month, multiple media reports indicated that CATL appointed Chen Jinghe, the founder and former chairman of Zijin Mining, as a senior advisor for its mining operations. The 69-year-old executive retired in January and will support CATL’s efforts to expand its mineral supply-chain business.
Source: CNEV Post
