Contemporary Amperex Technology (300750) H2 2024 earnings summary

Executive summary

• Achieved net profit attributable to shareholders of ¥50.74 billion, up 15.01% year-over-year, with lithium-ion battery sales reaching 475 GWh, a 21.79% increase.

• Maintained global leadership in both power and energy storage batteries, with global market shares of 37.9% and 36.5% respectively.

• Rolled out innovative products and solutions, including new battery technologies and zero-carbon initiatives.

Financial highlights

• Revenue was ¥362.01 billion, down 9.70% year-over-year; net profit attributable to shareholders rose 15.01% to ¥50.74 billion.

• Gross margin for power battery systems was 23.94%, and for energy storage systems 26.84%.

• Operating cash flow increased 4.49% to ¥96.99 billion.

• Basic and diluted EPS were both ¥11.58, up 15.11% and 15.22% respectively.

• Total assets grew 9.69% to ¥786.66 billion; net assets attributable to shareholders rose 24.90% to ¥246.93 billion.

Outlook and guidance

• Focus on three strategic directions: electrochemical storage + renewables, power batteries + NEVs, and electrification + intelligence.

• Plans to expand global production capacity, accelerate digitalization, and advance zero-carbon strategies.

• Anticipates continued growth in global demand for power and energy storage batteries, driven by clean energy transition and electrification.