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CATL’s Energy Storage Business Achieved Remarkable Results

published: 2023-08-01 17:07

CATL: In the first half of 2023, CATL’s energy storage business achieved remarkable results, recording revenue of 27.985 billion yuan and the sale of energy storage batteries reached nearly 35 GWh.

 On July 25, CATL released its 2023 semiannual report, reaffirming the accomplishments of its energy storage business. The revenue of 27.985 billion yuan for the first half of 2023 marked a substantial 120% year-on-year growth. Notably, the company’s energy storage battery sales during this period amounted to almost 35GWh, reflecting an impressive year-on-year growth rate of nearly 140%. The gross profit margin of 21.3%, exhibiting a commendable 14.9% year-on-year increase. Particularly noteworthy is CATL’s performance in Q2 of 2023. Its energy storage battery shipments surpassed 19GWh, showing a noteworthy 20% quarter-on-quarter increase. While the gross profit remained impressive at over 20.5%, it experienced a slight decrease of more than 1% quarter-on-quarter. The gross profit per watt also experienced a minor decline, standing at approximately 0.15 yuan per watt-hour (Wh), down by about 0.05 yuan per Wh compared to the previous quarter.

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