Contemporary Amperex Technology (300750) H2 2025 earnings summary

Executive summary

• Achieved record operating revenue of RMB423.7 billion in 2025, up 17.04% year-over-year, driven by robust demand for EV and ESS batteries.

• Net profit attributable to shareholders rose 42.28% year-over-year to RMB72.2 billion, with basic and diluted EPS at RMB16.14, up 39.38%.

• Maintained global leadership in power battery (39.2% market share) and energy storage battery shipments for the ninth and fifth consecutive years, respectively.

• Completed successful H-share IPO in Hong Kong, raising HKD41 billion to support overseas expansion and Hungary project.

• Distributed cash dividends equivalent to 50% of net profit for the third consecutive year, with cumulative dividends nearing RMB100 billion.

Financial highlights

• Operating revenue: RMB423.7 billion (+17.04% YoY); net profit: RMB72.2 billion (+42.28% YoY).

• Gross profit: RMB111.3 billion (+25.79% YoY); gross margin improved to 26.27% (+1.83pp YoY).

• Net cash flows from operating activities: RMB133.2 billion (+37.35% YoY).

• Total assets: RMB974.8 billion (+23.92% YoY); net assets attributable to shareholders: RMB337.1 billion (+36.52% YoY).

• Asset-liability ratio decreased to 61.94% from 65.24% due to increased equity and reduced borrowings.

Outlook and guidance

• Expects continued growth in global EV and ESS battery demand, supported by accelerating electrification and clean energy transition.

• Focus on expanding global production capacity, advancing R&D, and deepening ecosystem partnerships.

• Committed to achieving carbon neutrality across the value chain by 2035.