CATL(SZ:300750) 21世纪经济报道·2025-09-05 11:10Core Viewpoint - The lithium battery industry is experiencing renewed momentum due to the recent issuance of the "Action Plan for Stable Growth in the Electronic Information Manufacturing Industry (2025-2026)" by the Ministry of Industry and Information Technology and the State Administration for Market Regulation, which sets a target for average revenue growth of over 5% in related sectors, including lithium batteries [1]. Group 1: Industry Growth and Demand - The lithium battery sector has seen a surge in demand this year, driven by increased production capacity and output from leading companies, alongside expansion plans and anticipated capital expenditure growth [2]. - The significant growth in sales of new energy vehicles (NEVs) and the rising demand for energy storage have been key factors stimulating the demand for lithium batteries [4][5]. - In the first half of the year, global NEV sales reached 9.1 million units, a 28% year-on-year increase, with China contributing over half of this figure [4]. Group 2: Market Dynamics and Trends - The demand for energy storage batteries has exceeded expectations, with new installed capacity for battery energy storage systems reaching 86.7 GWh in the first half of the year, a 54% increase year-on-year [5]. - The commercial viability of solid-state batteries is being accelerated by policy support, market demand, and technological breakthroughs, with potential applications in various sectors [5]. - CATL reported a high capacity utilization rate of 89.86% in the first half of the year, reflecting strong market demand and ongoing capacity expansion [6]. Group 3: Financial Performance - The lithium battery sector's revenue reached 1.13 trillion yuan in the first half of the year, marking a 13.78% year-on-year growth, while net profit increased by 28.07% to 67.95 billion yuan [7]. - Despite a recovery in performance, there remains a disparity among different segments, with positive trends in cathodes, anodes, and electrolytes, while lithium mining and separators continue to face pressure [7].