CATL's 2026 semi-annual report shows that its energy storage battery system business achieved revenue of RMB 53.261 billion, a year-on-year increase of 87.54%, accounting for 19.23% of total revenue, making it the fastest-growing major business segment. This proportion is significantly higher than the approximately 14.74% in the same period of 2025. According to data from Xinluo Information, CATL ranked first globally in energy storage battery shipments in the first half of the year, maintaining its position for five consecutive years.
CATL's total revenue in the first half of the year was RMB 276.917 billion, a year-on-year increase of 54.8%; net profit attributable to shareholders was RMB 43.284 billion, a year-on-year increase of 42%. Among them, revenue from power battery systems was RMB 192.125 billion, a year-on-year increase of 46.02%, accounting for approximately 69.38% of total revenue, with a gross profit margin of 20.63%; the gross profit margin of energy storage battery systems was 23.96%, higher than that of the power battery business. In the first half of the year, the company's battery production reached 498 GWh, and sales reached 435 GWh, representing a year-on-year increase of 61%. Energy storage sales accounted for nearly a quarter of total sales, while the company accumulated 63 GWh of inventory to prepare for the peak season in the second half of the year.
The gross profit margin and revenue growth rate of the energy storage business were both higher than those of the power battery business, reflecting that energy storage is transforming from a supporting role for power batteries into an independent growth engine. The revenue share of the energy storage business jumped from 14.74% to 19.23%, indicating that CATL is further shifting from a power battery manufacturer to a battery and energy storage infrastructure platform provider. Its competitive scope has expanded from cell manufacturing to multiple segments including battery packs, liquid-cooled battery cabinets, system integration, sodium-ion energy storage, EMS (energy management system), safety management, overseas certification, and long-term delivery.
CATL already holds a leading global market share in the cell segment. Its extension into system integration and energy storage infrastructure platforms will affect the competitive positioning of PCS and EMS suppliers—there is both room for cooperation and the possibility of overlapping business boundaries.
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