CATL Profit Surges as Battery Giant Moves On From Tough Quarter

CATL’s Shenzhen-traded shares have gained about 50% since a low in May as the company ramps up global capacity

(Bloomberg) — Contemporary Amperex Technology Co. Ltd. reported a rise in first-half net income, clawing back from a disastrous start to the year in which the Chinese battery-making giant posted its sharpest-ever drop in quarterly earnings.

Profit for the six months through June 30 jumped 82% year-on-year to 8.17 billion yuan ($1.2 billion), beating analysts’ average estimate of 6.39 billion yuan, as CATL weathered ongoing volatility in raw material prices that risks cutting further into margins.