CATL posts 15.01% YoY rise in 2024 annual net profit, despite drop in revenue

Shanghai (Gasgoo)- On March 14, Contemporary Amperex Technology Co., Ltd. ("CATL") released its 2024 annual financial report, revealing total revenue of around 362 billion yuan, a 9.7% decline year-over-year.

However, its full-year net profit attributable to shareholders rose 15.01% from a year earlier to 50.745 billion yuan, underscoring the company's steady growth momentum. Excluding the impact of certain non-recurring gains and losses, the company's net profit still rose 12.23% from a year earlier to 44.993 billion yuan.

Photo credit: CATL

In the fourth quarter (Q4) of 2025, CATL recorded revenue of 102.968 billion yuan, resulting in a net profit of 14.744 billion yuan of net profit attributable to shareholders.

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). The company will not issue bonus shares or convert capital reserves into equity this year.

In 2024, CATL set a new record for R&D investment, allocating 18.607 billion yuan. Over the past decade, the company's cumulative R&D spending has exceeded 70 billion yuan.

CATL said, backed by a strong operating cash flow of around 97 billion yuan and over 300 billion yuan in cash reserves at year-end, it remained well-positioned to sustain high-intensity R&D efforts and expand high-quality production capacity.

The company highlighted its proprietary R&D framework, built on first-principle innovation, as a key driver of its technological leadership in lithium batteries. As of the end of 2024, CATL had operated six major R&D centers and employed more than 20,000 R&D staff members, holding a total of 43,354 patents and patent applications worldwide—25,439 at home and 17,915 abroad.