On March 14, 2025, Contemporary Amperex Technology Co., Limited (CATL) released its 2024 annual financial report. The report shows that the company’s total revenue was approximately 362 billion yuan, a year – on – year decrease of 9.7%. However, the net profit attributable to shareholders of the parent company increased by 15.01% to 50.745 billion yuan.
In 2024, CATL achieved a sales volume of 475 GWh of lithium – ion batteries, a year – on – year increase of 21.79%. Among them, the sales volume of the power battery system was 381 GWh, an increase of 18.85% year – on – year; the sales volume of the energy storage battery system was 93 GWh, an increase of 34.32% year – on – year. The company’s power battery loading volume of 339.3 GWh has topped the global list for eight consecutive years, and its market share has continued to rise to 37.9%. In terms of energy storage batteries, the global shipment market share in 2024 was 36.5%.
In terms of revenue composition, in 2024, the revenue of CATL’s power battery system was 253.041 billion yuan, accounting for 69.90%; the revenue of the energy storage battery system was 57.29 billion yuan, accounting for 15.83%; the revenue of the battery materials and recycling business was 28.7 billion yuan, accounting for 7.93%; the revenue of battery mineral resources was 5.493 billion yuan, accounting for 1.52%. The gross profit margins of power batteries and energy storage batteries were 23.94% and 26.84%, respectively, showing a year – on – year upward trend.
CATL’s R&D investment in 2024 was 18.607 billion yuan, a slight increase of 1.37% year – on – year. By the end of 2024, the company had operated six major R&D centers, employed more than 20,000 R&D staff, and held a total of 43,354 patents and patent applications worldwide. With strong R&D strength, CATL has a leading position in battery technology. For example, the Qilin battery with a range of 1,000 kilometers, the Shenzheng battery that can provide a range of 400 kilometers after charging for 10 minutes, and the Xiaoyao extended – range hybrid battery with a pure electric range of over 400 kilometers and a 4C ultra – fast charging function are often used in high – end models of China’s new energy vehicles.
In 2024, CATL had a strong operating cash flow of approximately 97 billion yuan and cash reserves of over 300 billion yuan. The company stated that it is well – positioned to continue high – intensity R&D efforts and expand high – quality production capacity. In addition, CATL also announced its 2024 profit distribution plan, which includes a total cash dividend payout of approximately 19.976 billion yuan. Based on a share capital of about 4.387 billion outstanding shares, shareholders will receive a cash dividend of 45.53 yuan per 10 shares (pre – tax).
Overall, although CATL faced a decline in revenue in 2024, it still achieved growth in net profit through technological innovation, cost control, and other means. The company’s leading position in the power battery and energy storage battery markets is stable, and it has strong development potential in the future.