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Article: CATL profit jump fuels Hong Kong battery stocks amid global energy storage boom

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6 / 10

AI Summary (Processed Content)

CATL reported a significant 42% increase in net profit, driven in part by its high-margin energy storage business. This strong financial performance sparked a major rally in its own shares and boosted other battery stocks listed in Hong Kong and mainland China.

A company executive announced that CATL aims for its energy storage operations to grow to equal its electric vehicle battery business, potentially surpassing it long-term. The article highlights the global energy storage boom as a key growth driver for the battery industry.

The main topics covered are CATL's financial results, the surge in related battery stocks, and the strategic shift and growth forecast for the company's energy storage segment relative to its EV battery business.

Original URL

https://www.scmp.com/business/article/3346229/catl-profit-jump-fuels-hong-kong-battery-stocks-amid-global-energy-storage-boom?utm_source=rss_feed

Source Feed

Tech - South China Morning Post

Published Date

2026-03-11 10:00

Fetched Date

2026-03-11 07:30

Processed Date

2026-03-11 07:31

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Present

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Not Clustered

Raw Extracted Content

CATL profit jump fuels Hong Kong battery stocks amid global energy storage boom
The company’s strong results and energy storage push spark gains for battery makers listed in Hong Kong and mainland China
CATL shares surged more than 10 per cent to HK$608 during morning trading hours in Hong Kong on Wednesday – the highest level in five months – before closing 9 per cent higher at HK$599.50. That followed another 9 per cent increase on Tuesday.
Earlier this week, the battery giant reported a 42 per cent growth in net profit to 72.2 billion yuan (US$10.5 billion), with its smaller energy storage segment delivering higher margins than its dominant electric vehicle (EV) battery business.
Speaking at the Battery Show Asia 2026 in Hong Kong on Tuesday, CATL general counsel John H. Kwon said the company’s EV and energy storage battery businesses currently accounted for 80 per cent and 20 per cent of its operations, respectively. He said he expected the ratio to move towards 50:50 in the coming years, with energy storage potentially surpassing EV batteries over the long term.