CATL Surpasses Combined Net Profit of Seven Major Chinese Automakers Including BYD, Geely, and Chery in Q1 2026

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CATL surpassed the combined net profit of seven major Chinese automakers, including BYD, Geely, and Chery, in single-quarter net profit for the first quarter of 2026. According to Chinese media outlets Sina Auto and others, CATL's net profit attributable to shareholders for Q1 2026 was 20.7 billion yuan (approximately 3.88 trillion won). This figure significantly exceeds the combined Q1 net profit of approximately 17.5 billion yuan (about 3.28 trillion won) from the seven automakers: Chery, Geely, BYD, Shanghai Automotive, Great Wall Motor, Seres, and Changan Automobile.

Reviewing the Q1 2026 net profits reported by each company, CATL led with 20.7 billion yuan (approximately 3.88 trillion won). Among automakers, Chery Automobile recorded 4.17 billion yuan (about 780 billion won), Geely Automobile 4.16 billion yuan (about 780 billion won), and BYD 4.08 billion yuan (about 760 billion won). Shanghai Automotive reported 3.02 billion yuan (approximately 560 billion won), Great Wall Motor 945 million yuan (about 170 billion won), Seres 754 million yuan (about 140 billion won), and Changan Automobile 351 million yuan (about 60 billion won).

CATL's Q1 revenue was 129.13 billion yuan (approximately 24.24 trillion won). This scale surpasses the combined full-year 2025 revenue of three major Chinese electric vehicle startups: Li Auto, Nio, and Xpeng. Despite a slowdown in the growth of the new energy vehicle market following the elimination of EV subsidies, CATL achieved a battery installation volume of 59.52 GWh in China during the first quarter. Consequently, CATL's market share in China's battery sector rose by 3.47 percentage points year-on-year to 46.4%.

These financial results demonstrate CATL's influence within the Chinese automotive industry supply chain. Most Chinese automakers have adopted CATL batteries, and companies such as Geely and Shanghai Automotive operate joint ventures with CATL for battery production. CATL is also actively promoting the construction of battery swap infrastructure nationwide.

CATL, headquartered in Ningde, recorded an annual net profit of 72.2 billion yuan (approximately 13.55 trillion won) for 2025, already exceeding the combined profits of 13 Chinese A-share listed automakers that had disclosed their results at the time.

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*This content was translated by AI.View Original