Chinese battery giant Hyundai Ampere Technology (CATL) pictured here on April 2, 2020, breaking the ground at the end of 2019 with the first overseas factory in Germany and plans to add 2,000 jobs there between 2025 and 2025.
Martin Schutt | Picture Alliance | Getty Images
China’s Contemporary Ampere Technology Friday’s stock exchange filing showed annual revenue fell 9.7% as the price war in the mainland electric vehicle market attracted the world’s largest battery manufacturers.
Revenues for the 12-month period ending December were RMB 362 billion (US$50.01 billion), just below the LSEG average estimate of RMB 368.7 billion. It marks a decline in annual revenue for the company since the company began releasing its operating data in 2015.
Despite the decline in annual revenue, net profit increased by 15% to RMB 50.74 billion.
The revenue belongs to the company Plan list On the stock exchange in Hong Kong. Reuters Report The deal is expected to raise at least $5 billion, the city’s largest IPO rival in China’s Tiktok apnesiahou’s Public Offering of $5.32 billion In early 2021.
China’s electric vehicle sales (the main market for CATL) have shifted to higher equipment as subsidies and consumer purchasing incentives support sales. According to data from UK research firms Rho Sports.
CATL – the world’s largest electric vehicle battery manufacturer known for producing lower-cost but durable batteries – Count Tesla,,,,, public,,,,, Li Che,,,,, Neo As a key customer and enjoy 45% market share in EV battery installation, according to China Automotive Battery Innovation Alliance.
According to LSEG data, the market value of listed CATL was 1.12 trillion yuan as of Thursday.
In January, the US Department of Defense placed CATL and Chinese Internet giants Tencent On its list “Chinese military companies,” This will prohibit the department from purchasing goods and services from these companies starting in June 2026. The company denied any involvement in the military-related business and said it would work with the Department of Defense to resolve “false designations.”
The company also warned last month that uncertainty about tariffs is also a risk to the business given its global operations.
Battery manufacturers have invested overseas, including a battery factory in Hungary for sale to Mercedes and BMW,as well as joint venture With automakers Stellantis Build a lithium phosphate battery factory in Spain.
