CATL(SZ:300750) 3 6 Ke·2025-07-31 01:51Core Viewpoint - CATL reported a revenue of 178.89 billion yuan for the first half of 2025, representing a 7.27% increase compared to the same period last year [1][2]. Financial Performance - Revenue for the first half of 2025 was 178.89 billion yuan, up from 166.77 billion yuan in the previous year, marking a growth of 7.27% [1][2]. - Net profit attributable to shareholders was 30.49 billion yuan, a 33% increase from 22.86 billion yuan year-on-year [2]. - Deducting non-recurring gains, the net profit was 27.20 billion yuan, reflecting a 35.62% increase from 20.05 billion yuan [2]. - Operating cash flow increased by 31.26% to 58.69 billion yuan from 44.71 billion yuan [2]. - Basic and diluted earnings per share rose to 6.92 yuan, up 33.08% from 5.20 yuan [2]. Asset and Equity - Total assets reached 867.18 billion yuan, a 10.24% increase from 786.66 billion yuan at the end of the previous year [2]. - Net assets attributable to shareholders increased by 19.44% to 294.92 billion yuan from 246.93 billion yuan [2]. Revenue Breakdown - Revenue from power battery systems was 131.57 billion yuan, while energy storage battery systems contributed 28.40 billion yuan [5]. - Revenue from battery materials and recycling was 7.89 billion yuan, and revenue from battery mineral resources was 3.36 billion yuan [5]. - The overseas revenue accounted for 34.22% of total revenue, amounting to 61.21 billion yuan [7][8]. Dividend and Financial Strategy - The company proposed a cash dividend of 10.07 yuan per share, totaling 4.568 billion yuan [8][9]. - CATL plans to increase its financial management quota to 800 billion yuan, with an additional 400 billion yuan allocated for self-managed investments [10]. Recent Capital Raising - In May 2025, CATL raised 356.57 billion HKD (approximately 45.68 billion yuan) through its listing on the Hong Kong Stock Exchange [11][12]. - Major cornerstone investors included Sinopec (Hong Kong) and Kuwait Investment Authority, with total subscriptions amounting to 2.628 billion USD [15]. Shareholding Structure - As of June 30, 2025, the largest shareholders included Xiamen Ruiting Investment Co., Ltd. with 22.47% and Hong Kong Central Clearing Limited with 13.31% [15][17]. - The company's A-share price was 277.09 HKD, with a market capitalization of 1.26 trillion HKD, while the H-share price was 426.6 HKD, reflecting a premium of 40.82% over A-shares [17].