BUSINESS

CATL Nears 2 Trillion Yuan Valuation as AI Boom Fuels Demand

Published: Apr. 13, 2026 11:30 p.m. GMT+8

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CATL remains the global leader, with a 39.2% share of the EV battery market in 2025. Photo：IC

Shares of Contemporary Amperex Technology Co. Ltd. (CATL) hit a record high Monday, pushing its market capitalization close to 2 trillion yuan ($290 billion) as demand surged from artificial-intelligence data centers and energy storage.

The rally highlights a broader shift for the world’s leading electric-car battery maker, which is tapping the power needs of the global AI boom and overseas energy storage markets to fuel its next phase of growth.

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CATL shares hit record high Monday, peaking at 432.7 yuan/share with ~1.97T yuan market cap, closing at 1.95T yuan.
2025 results: revenue 423.7B yuan (+17%), net profit 72.2B yuan (+42.3%); leads EV batteries (39.2%) and storage (30.4%).
Growth from AI data centers, overseas storage orders (366 GWh, +144%), new bases, and 4.1B yuan stake in Zhongheng Electric.

AI generated, for reference only

Who’s Who

Contemporary Amperex Technology Co. Ltd.: CATL's shares hit a record high, nearing 2T yuan market cap ($290B), driven by AI data center and energy storage demand. Stock rose 4% to 432.7 yuan, closing at 427.1 yuan (1.95T cap). Global EV battery leader (39.2% share), 30.4% in storage. 2025 revenue: 423.7B yuan (+17%), net profit: 72.2B yuan (+42%). Plans new bases; investing in Zhongheng Electric for data centers.

Industrial and Commercial Bank of China Ltd.: Industrial and Commercial Bank of China Ltd. is one of only five companies listed on China’s A-share market with a market capitalization above 2 trillion yuan.

China Construction Bank: China Construction Bank is one of five companies listed on China’s A-share market with market capitalization above 2 trillion yuan, alongside ICBC, Agricultural Bank of China, PetroChina, and China Mobile. (32 words)

Agricultural Bank of China: Agricultural Bank of China is one of only five companies listed on China’s A-share market with a market capitalization above 2 trillion yuan, alongside Industrial and Commercial Bank of China Ltd., China Construction Bank, PetroChina Co. Ltd., and China Mobile Ltd.

PetroChina Co. Ltd.: PetroChina Co. Ltd. is one of only five companies listed on China’s A-share market with a market capitalization above 2 trillion yuan, alongside ICBC, China Construction Bank, Agricultural Bank of China, and China Mobile Ltd.

China Mobile Ltd.: China Mobile Ltd. is one of only five companies listed on China’s A-share market with market capitalization above 2 trillion yuan.

BYD Co. Ltd.: BYD Co. Ltd. trails CATL as a rival in the EV battery market, with an estimated 27.2% global share in 2025 (CATL's 39.2% leads by nearly 12 points), per SNE Research. No energy storage share mentioned for BYD.

Hangzhou Zhongheng Electric Co. Ltd.: Hangzhou Zhongheng Electric Co. Ltd. supplies power electronics and digital-energy equipment to data centers and telecom operators. CATL invested 4.1 billion yuan for a 49% stake, becoming largest shareholder. They plan cooperation in green ICT infrastructure, transportation electrification, and new power systems. Q1-Q3 2025: revenue 1.4 billion yuan (+20% YoY), net profit 72.6 million yuan (-15.6% YoY).

AI generated, for reference only