Battery Maker CATL’s Q1 Net Profit Dropped by 23.62% YoY

According to the recent report issued by Chinese battery giant CATL on Friday, in the first quarter of 2022, its revenue was 48.68 billion yuan, a year-on-year increase of 153.97%, while the net profit attributable to shareholders was 1.493 billion yuan, down 23.62% year-on-year.

Earlier, CATL announced that in order to ensure the quality and accuracy of its information disclosure, the release time of its first quarterly report for 2022 had been postponed from April 28 to April 30.

Specifically, with the growth of sales scale and the rapid increase in the prices of some raw materials, in the first quarter of this year, CATL’s operating costs, management expenses, sales expenses and R&D expenses increased by 198.66%, 73.73%, 121.68% and 117.49% year-on-year respectively. In addition, in the first quarter, the company’s investment income reached 461 million yuan, an increase of 7,247% year-on-year.

By contrast, CATL’s operating income reached 130.356 billion yuan in 2021, a year-on-year increase of 159.06%. The firm’s net profit was 15.931 billion yuan in 2021, a year-on-year increase of 185.34%.

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The sales volume of lithium-ion batteries topped 133.41 GWh in 2021, up 184.82% year-on-year, of which the sales volume of power battery systems was 116.71 GWh, up 162.56% year-on-year.