BEIJING (Reuters) -Chinese electric vehicle battery giant CATL’s first-quarter net profit grew at its fastest pace in nearly two years, while a rise in revenue ended five straight quarters of decline.
Net profit in the first three months in 2025 rose 32.9% year-on-year to 14 billion yuan ($1.91 billion), a stock market filing showed on Monday. Revenue was up 6.2% at 84.7 billion yuan.
CATL is currently seeking a listing on the Hong Kong Stock Exchange.
Reuters previously reported that CATL is aiming to raise at least $5 billion with the listing, which would mark the largest in Hong Kong in four years since Kuaishou Technology raised $6.2 billion in an initial public offering.
CATL said in late March the China Securities Regulatory Commission had approved the planned share sale.
The listing is set to happen in the second quarter of this year, according to the same Reuters report.
In early April, Reuters also reported CATL was in talks to buy a controlling stake in electric vehicle maker Nio’s power unit, which runs more than 3,000 battery swapping stations in China.
($1 = 7.3119 Chinese yuan renminbi)
(Reporting by Beijing NewsroomEditing by David Goodman and Joe Bavier)
