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Chinese battery giant CATL posts record quarterly profits amid green energy boom

Source: scmp.com scmp.com
News Snapshot:

Chinese battery giant Contemporary Amperex Technology Co Limited (CATL) slightly missed market estimates for second-quarter revenue and net profit, as China’s weakening demand for electric vehicles (EVs) outweighed benefits from the energy shock.The world’s largest battery maker reported a record 147.79 billion yuan (US$21.8 billion) in revenue and a record 22.5 billion yuan in net profit for the second quarter, up 56.92 per cent and 36.5 per cent year on year, respectively, according to an exchange filing on Friday evening.The results, despite being record figures, slightly missed market estimates of 148.6 billion yuan in revenue and 23.4 billion yuan profit.CATL’s…

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