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The Chinese contemporary battery giant of Amperex technology (CATL), in the photo here on April 2, 2020, began its first factory abroad in Germany at the end of 2019 and plans to add up to 2,000 jobs there by 2025.
Martin Schutt | Image Alliance | Getty images
From China Contemporary amperex technology It registered a 9.7% drop in annual income, showed a presentation in the stock exchange on Friday, since a price war in the continental electric vehicle market caught the world’s largest battery manufacturer.
The income for the 12 -month period that ended in December reached 362 billion yuan ($ 50.01 billion), just under an average estimate of LSEG of 368.7 billion yuan. It marked the company’s first fall in annual income since the company began publishing its operational figures in 2015.
Despite the annual drop in income, net earnings increased by 15% year more than 50.74 billion yuan.
The profits come as the company is scheduled for a list In the Hong Kong Stock Exchange. Reuters reported that the agreement is expected to collect at least $ 5 billion in what would be the largest initial public offer in the city from the Chinese rival of Tiktok Apnesiahou ‘s $ 5.32 billion public offer In early 2021.
Chinese sales of electric vehicles, a key market for CATL, changed to a higher march last year, since a combination of subsidies and consumers’ purchase incentives supported sales. EV sales in China increased 40% in the year to reach 11 million vehicles in 2024, according to data from the United Kingdom’s research firm. Rho movement.
Catl, the largest electric vehicle batteries in the world, known for producing smaller but lasting cells, counts Tesla, Volkswagen, Li car, Child As key customers and enjoys a dominant market share of 45% in China last year in terms of EV battery facilities, according to data from China Automotive Battery Innovation Alliance.
Catl, which is in Shenzhen, has a market capitalization of 1.12 billion yuan as of Thursday, according to LSE data.
In January, the United States Department of Defense put Catl and a Chinese Internet giant Tencent In your list of “Chinese military companies” which would prohibit the department from acquiring goods and services from these companies as of June 2026. The company has denied any commitment to business related to the army and said it will work with DOD to address the “false designation.”
The company also sounded caution last month that uncertainties about tariffs were also a risk to the business given its global operation.
The battery manufacturer has advanced with investments abroad, including a battery factory in Hungary to sell to the tastes of Mercedes and BMWas well as a Joint Business With automation manufacturer Stellantis To build a lithium iron phosphate battery plant in Spain.
