CATL’s Q1-Q3 2022 net profit expected to soar 112.87%-132.22% YoY

Shanghai (Gasgoo)- For the first three quarters of 2022, CATL's total net profit attributable to shareholders was anticipated to reach 16.5 billion-18 billion yuan (US$2.299 billion-2.508 billion), surging 112.87%-132.22% from the same span of last year, according to the company's announcement.

Excluding the impact of certain non-recurring gains and losses, CATL's net profit for the first nine months was likely to soar 127.15%-149.86% year on year to 15 billion-16.5 billion yuan (US$2.09 billion-2.299 billion).

Photo credit: CATL

For the third quarter of this year, CATL predicated that its net profit attributable to shareholders would be between 8.8 billion yuan and 9.8 billion yuan (US$1.226 billion-1.366 billion), rocketing 169.33%-199.94% from a year earlier.

After deducting non-recurring profit and loss, the company's third-quarter net profit was estimated to be 8.3 billion-9.3 billion yuan (US$1.157 billion-1.296 billion), zooming up 209.11%-246.36% over a year ago.

The company said the robust growth in net profit should owe much to the rapid development of both domestic and overseas new energy vehicle (NEV) industries, which continuously boosted the market demands for power batteries and energy storage batteries. Besides, the frequent roll-out of industry-leading products and solutions, the greater efforts to exploit markets, as well as the unleashing of production capacity previously deployed all contributed to the increase in the company's production, sales volume, and profitability.