Lithium battery energy storage gross profit

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%.

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.

How did energy storage batteries perform in the first half of 2023?

Moreover, according to data from SMM, the shipments of global energy storage batteries in the first half of 2023 surged to 87.0GWh, demonstrating an impressive year-on-year growth of 122.0%. CATL’s production capacity for energy storage batteries remained unparalleled, securing its rank as the world leader in this segment.

How does battery cost affect energy storage?

From the perspective of the cost structure of the energy storage system, the battery cost accounts for the highest proportion, reaching 60%. Therefore, thesubstantial increase in the cost of batteries will inevitably lead to a substantial increase in the cost of the energy storage system.

How did China's energy storage battery business perform in 2023?

The revenue of 27.985 billion yuan for the first half of 2023 marked a substantial 120% year-on-year growth. Notably, the company’s energy storage battery sales during this period amounted to almost 35GWh, reflecting an impressive year-on-year growth rate of nearly 140%.