CATL reported a 41.98% surge in H1 2026 net profit to 43.28 billion yuan, driven by a 46.02% rise in power battery revenue and an 87.54% increase in energy storage sales. Revenue reached 276.92 billion yuan, up 54.80% year-on-year.

The power battery segment generated 192.12 billion yuan with a 20.63% gross margin, while energy storage revenue climbed to 53.26 billion yuan at a 23.96% margin. Overall gross profit rose 48.03% to 66.26 billion yuan, though the combined margin slipped 1.09 percentage points to 23.93%. Excluding non-recurring items, net profit grew 43.44% to 39.01 billion yuan.

As of June 30, total assets stood at 1,138.88 billion yuan, with 372.05 billion yuan in cash and a 63.65% debt-to-asset ratio. Operating cash flow reached 60.22 billion yuan, and EPS rose 37.43% to 9.51 yuan.

The board approved a share buyback of 20-40 billion yuan at up to 573 yuan per share, covering up to 69.81 million shares (1.51% of capital). Shares will be canceled to boost EPS and shareholder returns. The plan represents ~10.75% of cash holdings and requires shareholder approval for execution within 12 months.