CATL sees H1 2022 net profit surge 82.17% YoY

Shanghai (Gasgoo)- CATL announced this week its revenue reached 112,971,257,900 yuan ($16.489 billion) for the first half of 2022 (“H1 2022”) thanks to the growth in its business scale, surging 156.32% from the previous year.

The company also said it scored an 82.17% year-on-year hike in its semi-annual net profit attributable to shareholders, which stood at 8,168,034,600 yuan ($1.192 billion). Excluding the impact of certain non-recurring gains and losses, the Jan.-Jun. net profit still shot up 79.95% over a year earlier to 7,051,287,000 yuan ($1.029 billion).

Photo credit: CATL

According to CATL's semi-annual financial results, the battery giant saw its net cash flow generated by operating activities shrink 27.42% from a year ago to 18,682,343,000 yuan ($2.727 billion) in the first six months of the year.

Besides, CATL's basic earnings per share stood at 3.5233 yuan ($0.51) in H1 2022, versus the 1.9416 yuan ($0.28) for the year-ago period.CATL also witnessed its H1 2022 operating cost zoom up 186.55% year over year to 91,873,351,200 yuan ($13.410 billion) due to the increase in its product sales and prices of some upstream raw materials.

Besides, the company said it continued to strengthen the investment in R&D works by developing more R&D projects and expanding the R&D team. As a result of those efforts, CATL's R&D investment in the first half of 2022 amounted to 5,768,093,100 yuan ($841.898 million), soaring 106.46% compared to the prior-year period.