CATL Q3 profit growth slows to 14.5%

CATL’s third-quarter net profit rose 14.5% year over year to about 21.25 billion yuan, while revenue climbed 58.6% to 165.22 billion yuan. Profit growth slowed sharply from the previous quarter, profit fell about 5% sequentially, and results missed analyst expectations. Analysts and reports cited intensifying battery-market competition, cooling Chinese auto-sales growth and concern about weaker EV demand, alongside rising costs and reduced fiscal support, including a smaller export VAT rebate. For the first nine months, revenue increased 56.2% and net profit rose 31.6%, but costs grew faster than sales and gross margin declined.