Xin Hua Cai Jing·2025-05-26 11:13Core Viewpoint - The lawsuit initiated by Hanchuan Intelligent against CATL and its subsidiaries over payment disputes has led to a significant drop in CATL's stock price and market value, highlighting financial tensions within the electric vehicle supply chain [2][5]. Company Overview - Hanchuan Intelligent specializes in intelligent manufacturing solutions across automotive electronics, healthcare, and new energy battery sectors, and was one of the first companies listed on the Sci-Tech Innovation Board in 2019 [2]. - In 2024, Hanchuan Intelligent reported a revenue of 474 million yuan, a year-on-year decline of 64.61%, attributed to strategic adjustments in its new energy business [2]. Legal Proceedings - Hanchuan Intelligent has filed four legal actions against CATL and its subsidiaries, seeking over 60 million yuan in total for unpaid equipment and service fees [2][3]. - The lawsuits involve claims for unpaid orders totaling over 160 million yuan, with specific amounts detailed for each case, including 37.68 million yuan from 2022-2023 and 779.7 million yuan from 2021-2022 [3][4]. Financial Performance - CATL reported a revenue of 362 billion yuan in 2024, a year-on-year decrease of 9.7%, but achieved a net profit of 50.74 billion yuan, reflecting a growth of 15.01% [5]. - As of the end of last year, CATL had substantial liquidity with cash and cash equivalents amounting to 303.5 billion yuan [5]. Industry Context - The lawsuit against CATL is not isolated, as other companies in the new energy sector, such as Zhongchuang Innovation, have also initiated legal actions against CATL for patent disputes, indicating broader challenges within the industry [5].