Overall, out of 21 companies, BYD, Xinwangda, and 6 other companies have achieved growth in both revenue and net profit. Companies such as Pannon Technology have seen declines in both revenue and net profit. Guoxuan High-Tech is in an awkward situation of increasing revenue without an increase in profit. Although the revenue of CATL (Contemporary Amperex Technology Co., Limited) has declined, its net profit has actually seen a slight increase.
From a revenue perspective, the total revenue of the 21 companies reached 265.14 billion yuan, with BYD leading with a revenue of 124.944 billion yuan, being the only lithium battery company with revenue over 100 billion yuan. CATL followed closely with 79.771 billion yuan in revenue. The combined revenue of just CATL and BYD reached 204.715 billion yuan, which also indicates the high concentration of the lithium battery market. Xinwangda ranked third with a revenue of 10.975 billion yuan. Tianneng Co., Ltd. and EVE Energy ranked fourth and fifth, respectively, with both companies' revenue exceeding 9 billion yuan, and the difference between them being only 0.011 billion yuan. Guoxuan High-Tech's revenue exceeded 7 billion yuan. Hengdian Dongci, Desay Battery, and 6 other companies' revenue ranged from 1 to 5 billion yuan. The remaining 8 companies' revenue was below 1 billion yuan.
In terms of year-on-year revenue growth, 11 companies including BYD and Xinwangda have achieved growth in revenue, while 10 companies including CATL and EVE Energy have seen a decline in revenue. The growth rate of revenue for the 11 companies was all below 50%, with Blue Lithium Core achieving the highest growth rate of 46.77%, Purple Electronics with a growth rate of 39.31%, and Haopeng Technology with a growth rate of 34.19%. Compared with the same period last year, the revenue growth rate of lithium battery companies has slowed down.
From a net profit perspective, the total net profit of the 21 companies reached 17.626 billion yuan (including some companies' losses), of which 19 companies made a profit, and Fu Energy Technology and Boliwei were in a loss-making state. CATL led other companies with a net profit of 10.51 billion yuan, accounting for more than half of the total net profit of the 21 companies. There was a gap in the range of net profits between 5 and 10 billion yuan. BYD ranked second with a net profit of 4.569 billion yuan. EVE Energy and Tianneng Co., Ltd. ranked third and fourth, respectively, with net profits of 1.066 billion yuan and 0.502 billion yuan. Hengdian Dongci, Xinwangda, and Topband Co., Ltd.'s net profits ranged from 1 to 5 billion yuan. The remaining 12 companies' net profits were all below 1 billion yuan.
In terms of net profit growth rate, 9 companies including Haopeng Technology, Xinwangda, and Huabao New Energy have seen an increase in net profit, while 8 companies including Guoxuan High-Tech and EVE Energy have seen a decline in net profit. Purple Electronics ranked first with a growth rate of 923.85%, Blue Lithium Core followed closely with a growth rate of 663.09%, and Xinwangda ranked third with a growth rate of 293.45%. the year-on-year growth rates of Huabao New Energy and Haopeng Technology also reached three digits. The growth rate of Topband Co., Ltd. also reached 82.29%. The growth rates of Saintyang Co., Ltd., BYD, and CATL were below 15%.
Source: Guangdong Battery