Lithium carbonate energy storage gross profit margin

Why did CATL's profit margin increase in Q3 2024?

In Q3 2024, CATL's gross profit margin reached 31.17%, the highest since Q4 2018. At CATL's Q3 earnings briefing, CFO Zeng Shu explained that the gross margin increase was driven by further declines in the prices of key materials, such as lithium carbonate, alongside reduced sales prices.

Does energy storage have a good profit margin?

However, the gross profit margin of the energy storage system was only18.37%, down 2.86% year-on-year, and was significantly lower than the gross profit margin of the company’s main business, photovoltaic inverters, which lowered the company’s overall profitability.

How did the energy storage business perform in 2022?

For the whole of last year, although the gross profit margin of the energy storage business decreased, it also reached 28.52%. In the first half of 2022, the gross profit margin of the energy storage business plummeted to 6.43%, down nearly 30 percentage points year-on-year, which can be described as adisaster.

Which lithium ion battery manufacturer has the most revenue in 2022?

On August 23,CATL, ranks first in top 10 lithium ion battery manufacturers, released its report for the first half of 2022. The energy storage system business achieved sales revenue of over 12.7 billion RMB, a year-on-year increase of 171.41%.

What is CATL's EV battery market share?

Domestically, CATL's EV battery market share reached 45.9% in the first nine months of 2024, a year-on-year increase of 3.1 percentage points, maintaining its top rank. On the energy storage side, CATL saw a substantial increase in overseas shipments.

Why did CATL suspend the Jiangxi lithium mine?

Regarding the suspension of the Jiangxi lithium mine, CATL responded that it has been in communication with the government about resuming operations and is exploring cost-reduction measures. However, due to declining lithium carbonate prices and the sharp market downturn, some adjustments have been made.