CATL's Quarterly Profit Surpasses Combined Net Income of Seven Top Automakers

In the first quarter of 2026, domestic automobile sales in China declined by 5.6% year-over-year, reflecting an overall weak market performance. Against this backdrop, Contemporary Amperex Technology Co. Limited (CATL) released its Q1 financial results, reporting revenue of RMB 129.131 billion and net profit attributable to shareholders of RMB 20.738 billion. This net profit exceeded the combined net profits of seven leading Chinese automakers—Chery, Geely, BYD, SAIC, Great Wall, Seres, and Changan—for the same period, which totaled approximately RMB 17.5 billion. Looking at the full year of 2025, CATL recorded a net profit of RMB 72.2 billion, up 42.28% year-over-year, translating to nearly RMB 200 million in daily net earnings—surpassing the combined annual net profits of 13 A-share listed vehicle manufacturers that had already disclosed their results at the time. In 2025, the company sold 661 GWh of lithium-ion batteries, a 39.16% increase year-over-year, including 541 GWh of power batteries and 121 GWh of energy storage batteries, securing the top global market share. Additionally, CATL distributed approximately RMB 36.1 billion in cash dividends throughout 2025, representing 50% of its net profit attributable to shareholders. The dividend plan included an interim dividend of RMB 10.07 per 10 shares and a proposed final dividend of RMB 69.57 per 10 shares (before tax). Based on this, Zeng Yuqun, CATL’s founder, who holds an indirect stake of 22.45%, received dividend income of approximately RMB 8.1 billion—exceeding the annual net profits of most A-share listed vehicle manufacturers. On the afternoon of June 18, the topic “CATL’s Profit Exceeds Combined Profits of Seven Automakers” topped Weibo’s trending list, sparking public discussion about profit distribution across the automotive supply chain. CATL also provides an official channel for consumers to check whether their purchased vehicles are equipped with CATL batteries.