Recently, Contemporary Amperex Technology Co., Limited (CATL), Shenzhen Highpower Technology Co., Ltd. (Highpower Technology), and Tianqi Lithium Corporation have successively disclosed their financial reports or earnings forecasts for the third quarter of 2026.
Contemporary Amperex Technology Co., Limited (CATL)
On the evening of October 20, Contemporary Amperex Technology Co., Limited (CATL) released its third-quarter report for 2026. For the first three quarters, the company generated operating revenue of RMB 442.137 billion, representing a year-on-year increase of 56.19%; achieved net profit attributable to shareholders of the listed company of RMB 64.530 billion, up 31.60% year-on-year; and recorded net profit excluding non-recurring gains and losses of RMB 57.876 billion, rising 32.68% year-on-year.
Looking at the single quarter, in Q3 2026, CATL recorded operating revenue of RMB 165.221 billion, up 58.58% year-on-year; net profit attributable to shareholders of the listed company reached RMB 21.246 billion, an increase of 14.54% year-on-year; and net profit attributable to shareholders of the listed company excluding non-recurring gains and losses stood at RMB 18.862 billion, up 14.86% year-on-year.
Third-quarter revenue growth was markedly higher than net profit growth. Addressing this divergence, CATL stated that it was primarily affected by changes in product structure, consumption taxes, export tax rebates, and related factors.
In its energy storage business, battery sales volumes maintained continuous growth. CATL disclosed that combined sales volume of electric vehicle (EV) power batteries and energy storage batteries exceeded 260 GWh in the third quarter, with energy storage batteries accounting for roughly one-fourth of the total. Based on this proportion, third-quarter energy storage battery sales are estimated to have exceeded 65 GWh.
In addition, CATL stated that its energy storage business is actively extending from selling battery cells and direct-current (DC) side products to providing alternating-current (AC) side equipment and fully integrated system solutions. As product formats diversify, the associated delivery and revenue recognition cycles have lengthened accordingly.
Shenzhen Highpower Technology Co., Ltd. (Highpower Technology)
On the evening of October 21, Shenzhen Highpower Technology Co., Ltd. (Highpower Technology) published its report for the third quarter of 2026. The disclosure indicates that during the third quarter of 2026 alone, the company realized operating revenue of RMB 2.07 billion, up 27.08% year-on-year; net profit attributable to shareholders of the listed company was RMB 114 million, representing a 45.53% year-on-year increase; and net profit excluding non-recurring gains and losses reached RMB 110 million, rising 33.5% year-on-year.
Highpower Technology stated that, serving as the company's new growth curve, its energy storage business has benefited from robust demand across both domestic and overseas markets, achieving steady gains in shipment volume and profitability. Concurrently, capitalizing on opportunities emerging from computing power infrastructure development, the company is actively advancing sample verification and customer onboarding for its AI Data Center (AIDC) supporting products.
Tianqi Lithium Corporation (Tianqi Lithium)
On the evening of October 20, Tianqi Lithium Corporation (Tianqi Lithium) issued its earnings forecast for the first three quarters of 2026. The company projects net profit attributable to shareholders of the listed company from January to September 2026 to reach between RMB 5.1 billion and RMB 6.0 billion, surging 2,734.97% to 3,235.26% year-on-year; net profit excluding non-recurring gains and losses is expected to range between RMB 5.03 billion and RMB 5.93 billion, marking a year-on-year increase of 6,957.09% to 8,219.79%.
Regarding the primary drivers behind these performance fluctuations, Tianqi Lithium stated that, benefiting from the development of the new energy industry and growing downstream demand, the average selling prices of the company's core lithium products rose substantially during the reporting period compared with the same period last year, driving an anticipated substantial year-on-year increase in operating revenue.
Notably, Sociedad Química y Minera de Chile S.A. (SQM), an important associate of Tianqi Lithium, is expected to report substantial year-on-year earnings growth for the first three quarters, leading to a significant increase in investment gains recognized from this associate compared with the same period of the prior year.
Source：EnergyTrend