Xin Lang Cai Jing·2025-04-30 06:08Core Viewpoint - The global energy storage market continued to grow rapidly last year, but the decline in energy storage battery prices led to a sharp drop in revenue growth for most lithium battery companies' energy storage segments [1] Group 1: Revenue Performance - Among the top ten lithium battery companies, seven, including CATL, saw a decline in revenue growth for their energy storage segments compared to 2023 [1] - CATL ranked first in energy storage revenue with 57.29 billion yuan in 2024, significantly ahead of the second to eighth companies combined [1] - The revenue of EVE Energy and Hicharge Energy ranked second and third, both exceeding 10 billion yuan [1][2] Group 2: Revenue Growth Rates - CATL's energy storage revenue decreased by 4.36% in 2024, down from a 33.17% increase in 2023 [2] - EVE Energy's revenue grew by 16.44%, while Hicharge Energy's revenue increased by 27.20% [2] - Among the ten companies, Zhongxin Innovation had the fastest revenue growth at 72.6%, although this was a decline from 131.9% in 2023 [7] Group 3: Sales Volume and Market Position - CATL's energy storage sales volume reached 93 GWh, a year-on-year increase of 34.32%, but below the industry average growth rate [5] - EVE Energy's sales volume increased by 91.9% to 50.45 GWh, while Hicharge Energy's sales volume grew by 88.7% to 33.6 GWh [5][6] - CATL's sales growth in absolute terms was equivalent to that of EVE Energy and 1.5 times that of Hicharge Energy [6] Group 4: Profitability and Margins - In terms of gross margin, Pylon Technologies led with 28.90%, followed by CATL at 26.84% [9] - CATL's high gross margin is attributed to brand premium, as its battery products are generally priced higher than competitors [10] - Despite a decline in sales, the gross margin for CATL improved from 23.79% in 2023 [9]