CATL(SZ:300750) Sou Hu Cai Jing·2025-05-06 09:35Core Viewpoint - CATL (Contemporary Amperex Technology Co., Limited) is preparing for a listing on the Hong Kong Stock Exchange, which will create an "A+H" share structure, making it one of the few companies with a market capitalization exceeding 1 trillion yuan listed in Hong Kong [2][3]. Financial Performance - In Q1 2025, CATL reported revenue of 84.7 billion yuan, a 6.18% increase from 79.77 billion yuan in the same period last year [4][5]. - The net profit for Q1 2025 was 13.96 billion yuan, up 32.85% from 10.51 billion yuan year-on-year [5]. - For the full year 2024, CATL's revenue was 362 billion yuan, a decrease of 9.7% from 400.9 billion yuan in 2023 [9][10]. - The net profit for 2024 was 50.74 billion yuan, a 15.01% increase from 44.12 billion yuan in 2023 [11]. Product and Market Overview - CATL specializes in the research, production, and sales of power batteries and energy storage batteries, focusing on the replacement of fossil fuels through electrification and intelligence [6][13]. - The company offers a variety of battery products, including lithium iron phosphate batteries, ternary high-nickel batteries, and sodium-ion batteries, catering to different energy density requirements [6][13]. - CATL's products are widely used in various sectors, including passenger vehicles, commercial vehicles, and energy storage applications [8][9]. Client Base - As of the end of 2024, CATL served nine out of the top ten global electric vehicle manufacturers, including BMW, Mercedes-Benz, and Volkswagen [8]. - The company's energy storage clients include major players like NextEra and China National Petroleum Corporation [9]. Corporate Governance - Recently, CATL elected Zeng Yuqun as the chairman of the board and appointed Pan Jian and Li Ping as co-chairmen [19].