Reported about 6 hours ago
Contemporary Amperex Technology Co. Ltd. (CATL) announced a 15% increase in net income for 2024, reaching 50.7 billion yuan ($7 billion), despite a 9.7% decline in sales to 362 billion yuan. The company's performance demonstrates its strong market position against rivals in the EV battery sector, even as global demand faces uncertainty. CATL's energy storage business reported revenue of 57.3 billion yuan, and the company is preparing for a significant $5 billion secondary listing in Hong Kong to fund its expansion in Europe.
Source: YAHOO