Contemporary Amperex Technology Co Ltd Class A

300750: XSHE (CHN)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	¥918.00	Wpywk	Lkfczwrv

CATL Earnings: Profit In Line; Stronger Margin Offsets Revenue Decline and Soft Battery Pricing

Vincent Sun

Jul 29, 2024

Contemporary Amperex Technology Co. Limited, or CATL, reported 13% year-over-year net profit growth in the second quarter. Thanks to lower lithium prices, the gross margin recovery trend remains intact, with a 5-percentage-point gain in the quarter from a year ago. With first-half revenue and net profit accounting for 40% and 47% of our previous full-year forecasts, respectively, we consider that revenue slightly missed our expectation, but net profit was in line.

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