CATL's net profit last year increased by 42.28% year-on-year

Securities Daily Reporter Li Ting

On the evening of March 9th, CATL (Contemporary Amperex Technology Co. Limited) disclosed its 2025 annual report, showing that during the reporting period, the company achieved operating revenue of 423.702 billion yuan, a year-on-year increase of 17.04%; net profit attributable to shareholders was 72.201 billion yuan, up 42.28% year-on-year. At the same time, the company’s 2025 profit distribution plan is to pay a cash dividend of 6.957 yuan (tax included) per 10 shares.

Wanlian Securities investment advisor Qu Fang told Securities Daily that overall, CATL’s performance met expectations, with steady improvement in development quality and efficiency. The company’s global competitiveness continues to strengthen, relying on its global layout and capacity assurance, leading in both power batteries and energy storage businesses; meanwhile, technological innovation drives significant results, with R&D investment and patent reserves building a strong barrier. New products and new application scenarios are constantly opening up growth space. Additionally, the ecological layout continues to improve, with zero-carbon technology, battery swapping models, and green development advancing in synergy, laying a solid foundation for long-term growth.

In 2025, CATL’s R&D investment reached 22.1 billion yuan, with the proportion of revenue continuously increasing. Over the past 10 years, total R&D investment has exceeded 90 billion yuan. By the end of last year, the company held and was applying for a total of 54,538 domestic and international patents. It has achieved breakthroughs by deeply integrating AI technology with innovative manufacturing processes.

In terms of products, CATL has successively launched the second-generation Shenxing supercharging batteries, Xiaoyao dual-core batteries, sodium new power batteries, and others, continuously building its product matrix. Meanwhile, the company is unlocking new fully electric scenarios with a “full-domain incremental” strategy. In the aerospace and low-altitude fields, it has obtained AS9100D aerospace quality system certification; in the shipping sector, it has supported the safe operation of over 900 electric ships and launched the world’s first “ship–shore–cloud” zero-carbon shipping integrated solution. To meet the strong global market demand, CATL’s global capacity layout in 2025 will reach 772 GWh, with an under-construction capacity of 321 GWh; projects such as the Hungarian factory and Indonesia battery supply chain are progressing steadily.

Currently, CATL has initially built a battery swapping ecosystem covering both passenger and commercial sectors. Its subsidiary’s chocolate passenger car battery swapping brand has established over 1,000 stations across 45 cities nationwide; the Qiji commercial vehicle battery swapping brand has built over 300 stations across 26 provinces. The company is also actively promoting industry ecosystem collaboration and advancing relevant standards and policies.

Relying on its zero-carbon technology foundation, CATL has developed a series of solutions including direct green power supply, zero-carbon parks, source-grid-load-storage, and grid-connected energy storage, working with leading industry players to explore pathways for zero-carbon development in high-emission industries. Industry experts believe that in the future, the company will continue to leverage technological innovation and leading products as its foundation to drive sustained growth in overall value and strengthen its competitive barrier as a “globally leading zero-carbon new energy technology company.”