CATL(300750) 中银国际·2025-03-26 06:54Investment Rating - The report maintains a "Buy" rating for the company [1][4][6] Core Views - The company achieved a net profit of 50.745 billion RMB in 2024, representing a year-on-year growth of 15.01%, which aligns with expectations [4][9] - The company holds a strong market position, being the global leader in power battery usage for eight consecutive years, with a market share of 37.9% in 2024 [9] - The company has a comprehensive product matrix and is leading in solid-state battery technology [9] Financial Summary - The company’s revenue for 2024 is projected at 362.013 billion RMB, a decrease of 9.7% compared to 2023 [8][10] - The EBITDA for 2024 is estimated at 70.219 billion RMB, with a significant increase in net profit expected in the following years [8][10] - The forecasted earnings per share (EPS) for 2025 is 15.02 RMB, reflecting a growth of 5.1% from previous estimates [6][10] Market Performance - The company's stock price is currently at 259.48 RMB, with a market capitalization of approximately 1,142.593 billion RMB [1][2] - The stock has shown a 40.4% increase over the past 12 months, outperforming the Shenzhen Composite Index by 27.4% [2] Shareholder Information - Major shareholders include Xiamen Ruiting Investment Co., Ltd., holding 23.27% of the shares [3]