CATL's revenue in the first half of the year increased by 48.69%, while its profit dropped by 49.70%

On the evening of August 23, power battery giant CATL released its financial report for the first half of 2018. Data showed that the company achieved total operating revenue of 935,958.07 million yuan in the first half of 2018, a year-on-year increase of 48.69%; net profit attributable to shareholders of listed companies was 910 million yuan, a year-on-year decrease of 49.70%.

Regarding the decline in net profit, CATL stated that it was due to the impact of the gains from the transfer of its equity in Pride New Energy Battery Technology Co., Ltd. in the same period last year.

After deducting the disposal gains from the transfer of Pride and the impact of other non-recurring gains and losses on the performance, CATL's net profit in the first half of the year was 697 million yuan, an increase of 36.55% year-on-year.

CATL's sales revenue of power battery systems was 718,756.67 million yuan, a year-on-year increase of 34.92%; its sales revenue of energy storage systems was 51,094.00 million yuan, a year-on-year increase of 1,024.50%; and its sales revenue of lithium battery materials was 174,734.47 million yuan, a year-on-year increase of 123.59%.

CATL has not only been growing steadily in the field of power battery systems and their materials, but has also performed well in the field of energy storage, with a year-on-year growth of 1024.50%.

On June 18, 2018, CATL signed a 2.4 billion yuan large-scale lithium battery energy storage project. The project is a collaboration between Fujian Investment Group Co., Ltd., CATL New Energy Co., Ltd., and Fujian Electric Power Survey and Design Institute, and is planned to be implemented in three phases. The first phase of the project plans to build a 100MWh lithium battery energy storage power station, the second phase will expand the 500MWh lithium battery energy storage equipment, and the third phase will expand the 1000MWh lithium battery energy storage equipment. At the same time, mobile energy storage equipment and mobile charging facilities will also be built.

CATL has three major applications for energy storage in the future. The first is on the power generation side, including photovoltaics, wind power, thermal power, and future nuclear power. The second is that it can be used for frequency and amplitude modulation in the process of power transmission and distribution. The third is on the user side, for peak shaving and valley filling, smart grids, and future distributed photovoltaic power generation, etc.

As a winner of Toutiao's Qingyun Plan and Baijiahao's Bai+ Plan, the 2019 Baidu Digital Author of the Year, the Baijiahao's Most Popular Author in the Technology Field, the 2019 Sogou Technology and Culture Author, and the 2021 Baijiahao Quarterly Influential Creator, he has won many awards, including the 2013 Sohu Best Industry Media Person, the 2015 China New Media Entrepreneurship Competition Beijing Third Place, the 2015 Guangmang Experience Award, the 2015 China New Media Entrepreneurship Competition Finals Third Place, and the 2018 Baidu Dynamic Annual Powerful Celebrity.