CATL's Q3 net profit was 9.424 billion yuan

CATL released its latest performance report: revenue in the third quarter was 97.4 billion yuan, with an estimated 66.37 billion yuan. Q3 net profit was 9.424 billion yuan, a year-on-year increase of 188.42%; in the first three quarters, the net profit was 17.59 billion yuan, a year-on-year increase of 126.95%.

From January to September this year, the business scale of CATL increased and the increase in production and sales led to a corresponding increase in operating income. The revenue in the first three quarters was 210.34 billion yuan, a year-on-year increase of 186.72%.

In the first three quarters of this year, CATL invested 10.577 billion yuan in R&D, a year-on-year increase of 130.18%. CATL said that the company continued to increase R&D investment, increased R&D projects, and expanded R&D teams, and the corresponding expenditures increased compared with the previous period.

CATL disclosed in its third-quarter report on October 22, 2022, that as of September 30, 2022, the company had 185,400 shareholders, an increase of 35,000 or 23.30% from the previous period (June 30, 2022).

CATL, whose clients include Tesla, Volkswagen, and BMW, reported a net profit of 9.4 billion yuan from July to September, according to a company filing with the Shenzhen Stock Exchange.