Tesla Supplier CATL Stock Hits Record High After Q1 Revenue Jumps 52%

TLDR

• CATL posted Q1 revenue of 129.1 billion yuan, a 52.5% jump year-on-year, beating analyst estimates of 108.16 billion yuan.
• Net profit came in at 20.74 billion yuan, up 48.5%, ahead of the 16.94 billion yuan expected.
• Hong Kong-listed CATL stock surged over 10% to a record high of HK$724.50. Shenzhen-listed stock hit 460 yuan, up 7%.
• CATL holds a 30% share of the global energy storage system market, which saw 79% demand growth in 2025.
• CATL stock is up 101% over the past year, far outpacing the Hang Seng’s 23% gain.

Contemporary Amperex Technology (CATL), the world’s largest EV battery maker, reported better-than-expected first-quarter earnings on Thursday. The results sent the company’s stock to record highs on two exchanges.

Revenue for the quarter came in at 129.1 billion yuan ($18.93 billion), a 52.5% rise from the same period a year ago. Analysts had expected sales of around 108.16 billion yuan, according to FactSet data.

Net profit attributable to shareholders was 20.74 billion yuan — up 48.5% year-on-year. The market had been expecting around 16.94 billion yuan.

Operating profit came in at 26.7 billion yuan. Earnings per share rose to 4.58 yuan from 3.18 yuan a year earlier.

CATL’s Hong Kong-listed stock surged over 10% to hit a record high of HK$724.50 during Thursday’s session. Its Shenzhen-listed stock also climbed as much as 7% to 460 yuan, reaching an all-time high there too.

The broader Hong Kong market also had a solid day. The Hang Seng Index rose 1.7%, and mainland China’s CSI 300 added 1.1%.

A Business Running on More Than EVs

CATL supplies major automakers including Tesla. The company said growth in the quarter was supported by expansion in its core battery business and continued global demand for electrification.

Chinese EV sales have been under pressure in 2026 following the expiration of government subsidies at the end of last year. But CATL has been gaining ground in a different part of the energy market.

Energy storage systems (ESS) — batteries that store surplus power for later use — are playing a bigger role. Global ESS demand jumped 79% in 2025, according to SNE Research. CATL held a 30% share of the global ESS market at the end of 2025.

The ongoing conflict involving Iran has added to demand expectations for energy storage, as it may push further investment in power infrastructure and alternatives to traditional energy supply chains.

Stock Has Doubled in a Year

CATL stock has surged 101% over the past 12 months. The Hang Seng Index is up 23% over the same period.

That gap tells its own story. While the broader Hong Kong market has had a decent run, CATL has roughly doubled it.

Thursday’s record close adds to a strong streak for the stock. It has now hit all-time highs on both its Hong Kong and Shenzhen listings in the same session.

Earnings per share stood at 4.58 yuan for the quarter, up from 3.18 yuan a year ago.

The company did not provide forward guidance in the earnings release, but the quarter’s numbers came in well ahead of what the Street was expecting across both the top and bottom lines.

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