CATL disclosed its Q1 2024 financial report. The data shows that in Q1 2024, CATL achieved operating revenue of 79.77 billion yuan, a year-on-year decrease of 10.41%; net profit attributable to shareholders of 10.51 billion yuan, a year-on-year increase of 7.00%; and adjusted net profit attributable to shareholders of 9.247 billion yuan, a year-on-year increase of 18.56%. The characteristic of "increasing profits without increasing revenue" is vividly reflected.
Compared with 2023, at the end of Q1 2024, CATL's inventory amount was 43.979 billion yuan, further declining from Q3 2023. CATL entered a passive destocking phase in Q3 2023, reached the supply-demand intersection point in Q4, and currently demand has clearly picked up while inventory remains at low levels.
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