On July 26, CATL unveiled its 2024 H1 report, posting revenue of 166.77 billion yuan (about 23.4 billion U.S. dollars) and profit attributable to shareholders of 22.87 billion yuan (about 3.21 billion U.S. dollars), of which, the net profit attributable to shareholders in the second quarter reached 12.36 billion yuan (about 1.73 billion U.S. dollars). During the reporting period, CATL showed an operating cash flow of 44.7 billion yuan (around 6.27 billion U.S. dollars), ensuring sufficient cash reserves, and a closing balance of 255 billion yuan (around 35.78 billion U.S. dollars), which will satisfy the needs of high R&D investment and the high-quality capacity expansion globally in the future. The comprehensive gross profit margin in the first half was 26.5%, rising 4.9% year on year. 

The first half of 2024 saw a steady increase of CATL's global market share. According to SNE Research, the consumption volume of CATL’s EV battery has ranked first in the world for seven consecutive years from 2017 to 2023, and from January to May 2024, its EV battery consumption volume maintains a leading position with a global market share of 37.5%, up 2.3% YoY. CATL has also ranked first in the market share of global energy storage battery shipment for three straight years from 2021 to 2023. According to ICCSINO, CATL's energy storage battery shipment maintained the top position in the global market from January to June, 2024. 

CATL was also highly recognized by international credit rating agencies in the first half. S&P Global Ratings (S&P) and Moody's upgraded CATL to A ratings and maintained a Stable Rating Outlook on its performance, making it a company with A ratings by the Big Three credit rating agencies, which placed a high degree of confidence in CATL's excellent sustained performance and prospect in the future. 

Lead the new energy industry with continuous growth of market share 

According to China Automotive Battery Innovation Alliance, in the first half of 2024, the market share of CATL’s EV battery consumption volume in China reached 46.4%, up 3% YoY, extending its lead in the domestic market. Most notably, CATL yielded remarkable results in different chemical material systems, with the market share of NCM EV battery consumption volume reaching 68.0%, up 6.4% YoY, enlarging the gap with major competitors. Meanwhile, its market share of LFP EV batteries maintained a steady growth, marking 37.2% and ranking top of its kind, up 2.1% YoY. 

CATL also delivered strong performance in the global market. According to SNE Research, in the first five months of 2024, CATL's global EV battery consumption volume accounted for 26.9%, ranking first in the world for the first time, a testimony to CATL's competitive edge and customer recognition in the world market. 

Provide high quality products with disruptive innovation 

With advanced R&D system and heavy R&D investment, CATL has continually delivered innovative products to the market. In the passenger vehicle sector, the newly released Shenxing PLUS battery, with an energy density of over 200Wh/kg, is the world's first LFP battery that achieves a range above 1,000 kilometers with 4C superfast charging. The latest generation of Qilin battery with a discharge power of over 1,300KW allows NEVs to accelerate from 0 to 100 km/h in less than 2 seconds. In the commercial vehicle sector, CATL TIANXING-L superfast charging edition is the world's first 4C superfast charging battery for light commercial vehicles and offers an 8-year/800,000-kilometer warranty. 

In the energy storage sector, CATL unveiled TENER, the world's first five-year zero degradation energy storage system with 6.25 MWh capacity. Moreover, with a 30% increase in energy density per unit area and a 20% reduction in the overall station footprint, the system can maximize the yield of energy storage projects, setting a new benchmark for the global energy storage industry. The launch of these products embodies CATL's technology advantage in the world, but also pushes the industry towards high efficiency, greenness and sustainability. 

Empower green transportation by producing high-quality batteries globally 

CATL is speeding up its efforts to expand production capacity to meet customers’ growing needs for high-quality products. Domestically, in addition to kicking off production of its Xiamen plant, CATL also started construction of the battery plant in Beijing. Internationally, CATL has accelerated steps for its capacity expansion in overseas markets. With solid technological strength, CATL's German plant received certifications from Volkswagen Group (Volkswagen) for both module testing and cell testing, becoming the world's first battery manufacturer to receive Volkswagen's battery module testing certification and also the first to obtain the group's cell testing certification in Europe, exemplifying its international competitiveness and influence. 

Based on the experience of building the production facility in Germany, the construction of CATL’s Hungarian plant also goes smoothly as planned. Some of the facilities have been topped out and several equipment have been tested on site, highlighting CATL's efficient and professional operations in global expansion. In addition, CATL is set to promote the overall application of Prismatic Super Line in the productivity construction, with an aim of reducing unit investment intensity and minimizing unit production costs, laying a solid foundation for CATL to maintain international competitiveness. CATL is making efforts to expand its global presence, so as to provide more efficient, reliable and high-quality battery solutions to global customers. 

Bear responsibility for sustainable development and take the lead in advancing energy transition 

CATL was selected in S&P Global Sustainability Yearbook 2024 (China Edition), which was released on July 16, thanks to its exceptional performance in the field of sustainability. It is the second year that CATL was selected in the Yearbook. With a Corporate Sustainability Assessment (CSA) score of 54 points in 2023 (ranking top 6% globally), CATL stood out from more than 1,700 Chinese companies in 60 industries and became one of the 129 companies selected into the Yearbook. Among them, only 3 companies in the electrical components & equipment industry were on the list.