CATL reports 13.4% increase in Q2 net income to 12.35 billion yuan, despite 13.2% revenue decline to 87 billion yuan.

CATL, the world's largest EV battery manufacturer, reported a 13.4% increase in its second-quarter net income, reaching 12.35 billion yuan ($1.7 billion). This comes despite a decline in revenue by 13.2% to 87 billion yuan. The company has managed to buck the trend of weaker-than-expected performance from its top rival, LG Energy Solution Ltd. CATL's first-half profit rose 10.4% to 22.9 billion yuan.

July 26, 2024
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