CATL posted strong revenue and profit growth in H1 2026, supported by continued demand for new energy applications
Its energy storage revenue grew significantly faster than EV battery revenue, lifting its share of CATL’s overall revenue mix
CATL says it is expanding its storage business through overseas projects, sodium-ion technology, and broader industry partnerships
Chinese battery giant CATL continued its strong growth trajectory in H1 2026, driven by rising electric vehicle (EV) and energy storage system (ESS) demand, with its energy storage business gaining a larger share of the revenue mix than in H1 2025.
Short for Contemporary Amperex Technology Co. Limited, CATL reported operating revenue of RMB 276.92 billion in H1 2026, representing a 54.80% year-on-year (YoY) increase. The company attributed the growth to continued expansion in demand for new energy power and energy storage during the reporting period.
Its gross profit for the period improved by 48.03% YoY to RMB 66.26 billion, while the gross profit margin was 23.93%, compared to 25.02%. CATL’s net profit of RMB 43.28 billion increased by 41.98% YoY.
China remained CATL’s largest revenue market during the first half of 2026, generating RMB 189.78 billion, or 68.54% of total revenue. Overseas markets contributed the remaining 31.46%, equivalent to RMB 87.13 billion.
The EV battery systems business remained CATL’s largest revenue contributor, generating RMB 192.12 billion, up 46.02% YoY and accounting for 69.38% of total group revenue.
Meanwhile, the ESS battery systems business recorded stronger growth, with revenue rising 87.54% YoY to RMB 53.26 billion. The segment accounted for 19.23% of CATL’s total revenue during H1 2026. This marked a notable shift in the company’s revenue mix compared with H1 2025, when ESS battery systems contributed 15.88% of group revenue, while EV battery systems accounted for 73.55%.
The figures indicate that energy storage is becoming an increasingly important growth driver for CATL, even as its EV battery business continues to account for the majority of the group’s revenue.
CATL’s battery materials, recycling, and mineral resources business also recorded strong growth during the reporting period. Revenue from the segment rose 67.23% YoY to RMB 18.81 billion, increasing its contribution to group revenue to 6.79% from 6.29% in H1 2025.
To leverage the growing demand for ESS, CATL is expanding cooperation across the energy storage industry. The company says it has secured multiple overseas energy storage integration projects across Germany, Spain, Chile, Malaysia, and Australia, including projects supporting grid security in Europe. During H1 2026, it entered a three-year, 60 GWh sodium-ion battery storage agreement with HyperStrong in China (see Global Battery Storage News Snippets).
During the reporting period, CATL launched its TENER sodium ESS, positioning sodium-ion technology as a commercial alternative to lithium-based storage (see CATL Debuts Commercial Sodium-Ion Energy Storage).
Recently, CATL announced achieving its 2025 carbon neutrality target for core operations, with all 20 of its battery manufacturing facilities certified as carbon neutral. It now targets full value-chain carbon neutrality by 2035 (see CATL Targets Carbon Neutral Supply Chain By 2035).
