Understanding the Market | CALB rises over 6%, with net profit in the first half increasing by over 80% year-on-year, and overseas energy storage business achieving breakthroughs
CALB's stock price rose by over 6%, with an increase of 6.72% as of the time of publication, reaching HKD 22.88, with a transaction volume of HKD 95.9711 million. The company announced its performance for the first half of 2025, with revenue increasing by 31.7% year-on-year to CNY 16.42 billion, and net profit rising by 80.4% year-on-year to CNY 750 million. Both the power battery and energy storage battery businesses achieved significant growth, especially with breakthroughs in the energy storage business in overseas markets
According to Zhitong Finance APP, CALB (03931) rose over 6%, with a current increase of 6.72%, priced at HKD 22.88, with a transaction volume of HKD 95.9711 million.
On the news front, CALB recently released its performance for the first half of 2025. CMB International pointed out that in 1H25, CALB's revenue increased by 31.7% year-on-year to RMB 16.42 billion, with power battery revenue up 9.7% year-on-year to RMB 10.66 billion, and energy storage battery revenue significantly up 109.7% year-on-year to RMB 5.76 billion. With the increase in shipment volume, the gross profit margin during the period reached 17.5%, up 1.9 percentage points year-on-year and 1.4 percentage points quarter-on-quarter. The net profit for the period increased by 80.4% year-on-year to RMB 750 million, with a net profit margin up 1.3 percentage points year-on-year and 1.8 percentage points quarter-on-quarter to 4.6%.
The firm continued to indicate that in 1H25, the company's power battery installation volume was 21.8 GWh, an increase of 22.7% year-on-year, with the commercial vehicle sector becoming a potential growth driver. According to data from the China Power Battery Alliance, in the first half of the year, CALB's cumulative delivery volume of commercial vehicle batteries exceeded 3.7 GWh (1H24: 0.9 GWh), with a market share increase of 2.8 percentage points year-on-year to 6.7%. At the same time, new model matching grew rapidly, with over 230 new vehicle announcements during the period, a year-on-year increase of 33%.
In terms of energy storage business, since 2H24, the company has gradually received energy storage orders, resulting in a significant increase in shipment volume in 1H25, successfully supporting power station projects in Latin America and South Africa. According to InfoLink data, in 1H25, the global energy storage market's cumulative cell shipments reached 240.2 GWh, an increase of 106.1% year-on-year, and it is expected that the total shipments for the year will reach 460.0 GWh. With breakthroughs in overseas power station business layout, the company's annual energy storage cell shipments are expected to maintain strong growth
