Gate News message, April 16 — UBS released a research report stating that CATL (China’s leading battery manufacturer) delivered Q1 results that exceeded expectations, with net profit reaching 20.7 billion CNY, up 49% year-over-year but down 10% quarter-over-quarter due to seasonal factors. Non-GAAP net profit rose 53% year-over-year to 18.1 billion CNY, representing 23% of UBS and market full-year forecasts.
Management emphasized strong orders in April and May, with capacity utilization rates expected to remain elevated at 85-90% in Q1 and Q2. While CATL did not proactively adjust prices in Q1, the company expects Q2 gross margins to decline year-over-year due to rising commodity costs and high comparables; however, management stated that most raw material cost increases can be passed on to customers.
UBS assigned a “Buy” rating with a 500 CNY price target on CATL’s A-shares and expects to gain further insights into next-generation battery products, solutions, and ecosystem strategies at the company’s Tech Day scheduled for April 21.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Franklin Templeton’s Digital Assets
Although Franklin Templeton is a traditional financial institution, Reed says, the company is indeed building on the blockchain with the spirit of a crypto-native company. He added that the crypto industry is still in its early stages, but the pace of change is accelerating.
SuperCryptoWahaha666668m ago
TradFi Rise Alert: MINIMAX (MINIMAX-W 00100.HK) Rises Over 6%
Gate News: According to the latest Gate TradFi data, MINIMAX (MINIMAX-W 00100.HK) has surged by 6% in a short period. Current volatility is significantly higher than recent averages, indicating increased market
GateNews27m ago
Starbucks Launches ChatGPT Integration for AI-Powered Beverage Recommendations
Starbucks has introduced a beta app within ChatGPT for personalized drink recommendations based on users' moods and preferences. This initiative, part of CEO Brian Niccol's transformation plan, aims to enhance the in-store experience while integrating AI technology.
GateNews1h ago
Amazon Sellers Launch 24-Hour Ad Boycott Over New Payment Policies and Fuel Surcharge
Amazon sellers are protesting new policies that reduce profit margins, including a fuel surcharge and delayed payments. The Million Dollar Sellers community, representing $14 billion in revenue, fears cash flow issues that threaten their businesses.
GateNews1h ago
Allbirds Stock Soars 582% After Announcing AI Pivot, $50M Funding Round
Allbirds announced a transformation to become NewBird AI, securing $50 million in convertible financing to focus on AI computing infrastructure. This decision follows declining sales and a brand sale. Stock surged 582%, but concerns about market competition and valuation bubbles persist.
GateNews2h ago
