CATL H1 revenue soars 48.69% year on year to RMB 9.36 billion

Posted on 8/27/2018 5:18:12 PM

China battery giant CATL announced on Aug. 23 that its revenue in the first half of 2018 soared 48.69% over the previous year to RMB 9.3595807 billion. The net profit attributable to shareholders of listed company reached RMB 910 million, slumping 49.7% on an annual basis.
CATL attributed the net profit slump to the equity transfer of Pride Power. In fact, CATL achieved YoY net profit surge of 36.55% to RMB 697million, after eliminating the cost of equity transfer of Pride Power and non-recurring loss and profit.
In the first half of 2017, CATL transferred the equity of Pride Power and gained profits from the equity transfer. Therefore, during the first half of 2018, CATL suffered an expected YoY revenue decline.
Specifically, sales revenue of CATL vehicle battery system reached RMB 7.1875667 billion with a YoY growth of 34.92%. Sales revenue of energy saving system skyrocketed 1024.5% to RMB51.097million. Moreover, sales revenue of its lithium battery materials reached RMB 1.7473447 billion, soaring 123.59% year on year.
During the first half of 2018, CATL's shipment of battery reached 7.3GWh, leaping 90% year on year. As the NEV subsidies are phasing out, the battery prices slipped around 30%. 
From January to May, CATL's market shares continued to rise, with installed capacity reaching 5.7GWh and market share increasing to 46.5%.

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