Power battery industry polarizes as CATL earns 240 million yuan a day while second-tier players accelerate breakout efforts

Earnings
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Summary · why it matters

The Matthew effect in the power battery industry has become more pronounced. CATL posted attributable net profit of 43.284 billion yuan in the first half, up 41.98 percent year on year, averaging about 240 million yuan in net profit per day. According to SNE Research, CATL held a 40.2 percent global market share in power battery usage from January to May 2026, up 2.2 percentage points year on year, and ranked first globally in energy storage battery shipments. By contrast, second-tier manufacturers are seeing profit margins keep shrinking. Gotion High-tech expects first-half attributable net profit of 1.2 billion to 1.55 billion yuan, with non-recurring gains and losses contributing about 1.1 billion to 1.4 billion yuan. Zenergy New Energy launched A-share listing tutoring just 15 months after its Hong Kong listing, while SVOLT Energy Technology has raised a cumulative 23 billion yuan and is steadily advancing IPO filing preparations. Facing cost pressure, second-tier companies are seeking breakthroughs through energy storage and overseas markets. SVOLT has set a target for overseas shipments to account for 63 percent by 2028.

Impact on stocks 2

Others± Mixed · 2 stocks
Gotion High tech Co Ltd
002074
▼ NegativeCapitalrelevance

Expects lower first-half profit with non-recurring gains dominating, indicating weak core profitability.

Theme Impact 4

Off-coverage companies 1

SVOLT Energy TechnologyPrivate▲ Positive
Demandrelevance

Raising funds and targeting overseas shipments to 63% by 2028, indicating growth strategy in energy storage and overseas markets.

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