CATL Establishes New Company
On April 7th, Shenzhen CATL New Energy Supply Chain Co., Ltd. was established in Shenzhen. Su Shewei serves as the legal representative of the company, which has a registered capital of 20 million Chinese yuan (approximately $3.13 million USD). The company’s business scope includes supply chain management services, battery manufacturing, sales of metal-based and ceramic-based composite materials, sales of photovoltaic equipment and components, sales of graphite and carbon products, and wholesale of automotive spare parts. CATL, a leading domestic manufacturer of power batteries with international competitiveness, is the sole owner of the company, as confirmed by shareholder information.
CATL, established in 2011, is one of China’s pioneering power battery manufacturers with global competitiveness. The company focuses on research, development, production, and sales of power battery systems and energy storage systems for new energy vehicles. CATL is committed to delivering top-notch solutions for global new energy applications. Its core technologies encompass research and manufacturing capabilities across the entire industry chain, including materials, cells, battery systems, and battery recycling for power and energy storage batteries.
In its recently released 2023 performance report, CATL achieved a total revenue of 400.917 billion yuan (approximately $62.93 billion USD), representing a year-on-year increase of 22%. The net profit attributable to the parent company reached 44.121 billion yuan (approximately $6.91 billion USD), reflecting a year-on-year increase of 44%. After deducting non-recurring items, the net profit exceeded 40 billion yuan ($6.27 billion USD). CATL reported improvements in its gross profit margin, which stood at 22.91%, and net profit margin, which reached 11.66%, compared to the previous year. However, the company’s stock price and market value have experienced a significant decline since the second half of last year. On January 30th, CATL’s market value was 619.165 billion yuan (approximately $97.05 billion USD), representing a decrease of nearly one trillion yuan compared to the peak period of over 1.6 trillion yuan ($251.37 billion USD). This decline has raised concerns in the market.
The Relationship Between CATL and Shenzhen
CATL has established strong ties with Shenzhen. On August 27, 2022, CATL and Seres jointly announced that the AITO Wenzhen series of new models would incorporate the Kirin Battery. CATL and AITO Wenzhen signed a five-year long-term strategic cooperation agreement, solidifying the full integration of CATL power batteries into AITO Wenzhen models.
AITO is a high-end smart car brand created through a collaboration between Seres and Huawei. Yu Chengdong, Executive Director and CEO of Huawei’s Consumer Business Group, as well as CEO of the Intelligent Car Solutions Business Unit, expressed that Huawei, Seres, and CATL share a common dedication to creating innovative technologies and high-quality products. He emphasized their commitment to ongoing innovation and the incorporation of the most powerful and advanced technologies into cars, with the ultimate goal of providing consumers with a truly intelligent travel experience.
On June 16, 2023, CATL entered into a strategic cooperation framework agreement with the Shenzhen Municipal People’s Government. The agreement focuses on various areas, including new energy vehicle battery swapping, electric boats, new energy storage, green parks, financial services, and trade. The objective is to foster comprehensive collaboration between the two parties. CATL’s goal is to leverage its capabilities to support Shenzhen’s energy transformation in the new era and contribute to the establishment of a world-class new energy storage industry center and automotive city. This collaboration aligns with the principles of complementary advantages, win-win cooperation, and innovative demonstration.
CATL Introduction
CATL (Contemporary Amperex Technology Co., Limited) is a leading global manufacturer of power batteries for electric vehicles and energy storage systems. Established in 2011, CATL has emerged as one of China’s pioneering companies in the field of lithium-ion battery technology.
With a focus on research, development, production, and sales of power battery systems, CATL aims to enable the widespread adoption of electric vehicles and promote the transition to clean and sustainable energy solutions. The company’s core technologies cover the entire battery industry chain, including the development of advanced materials, cell manufacturing, battery system integration, and battery recycling.
CATL is renowned for its high-quality products, technological innovation, and commitment to customer satisfaction. Its diverse portfolio includes a range of battery products tailored to meet the specific requirements of various electric vehicle models. The company has established partnerships with major automobile manufacturers both in China and abroad, contributing to the rapid growth of the electric vehicle market worldwide.
In addition to electric vehicle batteries, CATL also provides energy storage solutions for grid applications, promoting the integration of renewable energy sources and optimizing energy management systems. The company’s innovative energy storage products are designed to enhance grid stability, enable peak shaving and load shifting, and support the efficient utilization of renewable energy resources.
With its global presence and extensive industry experience, CATL continues to push the boundaries of battery technology, striving to deliver cutting-edge solutions that drive the sustainable development of the automotive and energy sectors.