CATL shares plunged 10% over two days due to Q3 outlook concerns and production cut speculation, despite forecasts for sequential shipment volume increases of 20% in Q3.
CATL reported a 42% increase in first-half net income to 43.3 billion yuan, driven by robust demand for energy storage systems which now account for 19% of revenue.
CATL reported a 36.5% year-on-year profit increase to 22.5 billion yuan, driven by strong energy storage growth despite softer EV demand. Plans include a 20-40 billion yuan share buyback and continued
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