Company snapshot

Contemporary Amperex Technology (CATL) is the dual champion of global power batteries and energy storage. Its 2025 results: revenue of RMB 423.7 billion, net profit of RMB 72.2 billion (up 42% year-on-year, nearly RMB 200 million earned per day), global power-battery share rising to 39.2% for a 9th consecutive year at No.1, and storage shipments No.1 for 5 straight years. Overseas gross margin reached 31.44% versus 24% domestic — a premium built on technology and standards, not just pricing.

Key figures: 96.9% capacity utilization (748 GWh produced from 772 GWh capacity), over 23,000 R&D staff, cumulative R&D investment above RMB 90 billion, and overseas revenue of RMB 129.6 billion in 2025 (three years above RMB 100 billion). Cash reserves of RMB 392.5 billion fund the global push.

Why the world is watching

Chairman Robin Zeng framed the strategy on the 2026 'Two Sessions' channel: 'We must not only sell products worldwide, but promote our technology and standards worldwide.' The clearest proof is the Ford deal — instead of a joint venture plant, CATL licenses its LFP technology to Ford, which funds a Michigan factory (35 GWh, launching 2026). Zeng's line — 'Without CATL, the U.S. EV market is doomed to fail' — rests on a real gap: the U.S. lacks battery talent at CATL's scale.

Four overseas bases now anchor the map: Thuringia, Germany (first annual profit in 2025); Debrecen, Hungary (40 GWh, fully locked by Mercedes, BMW, Stellantis, Europe's largest battery plant); Zaragoza, Spain (JV with Stellantis); and Halmahera, Indonesia (nickel localization). In storage, CATL won 56.9 GWh of 2025 overseas orders and a 1.1 GWh Argentina project — Latin America is the new growth pole.

What a delegation experiences

On a CATL-focused visit organized via China Innovation Visits, delegates typically explore three angles: (1) the Debrecen base — how a Chinese high-end manufacturer adapts to European standards and local supply chains; (2) the Ford 'technology licensing' model — a template for industries hit by trade friction (solar, semis); and (3) the Latin America storage market — Chile's storage law, Mexico's 30% mandate, and project pipelines. A full itinerary can run Ningde HQ → Hungarian plant → storage site, from R&D to global rollout.

Reading the annual report only shows the gross margin. Standing on the factory floor shows the execution.