Key Takeaways:
CALB Group expects first-half net profit of RMB1.5 billion to RMB1.58 billion, up 100% to 110% year on year, the Hong Kong-listed battery maker said in an interim results forecast.
The company attributed the jump to an expanding customer base, new application scenarios and continued ramp-up of products across passenger vehicles, commercial vehicles and energy storage, according to the announcement filed Aug. 14. The prior-year period delivered net profit of RMB753 million.
In passenger vehicles, CALB's 5C ultra-fast charging and high-power batteries gained broader adoption. The company exclusively supplies battery cells for the XPeng GX series and LFP batteries for the MONA L03, and serves as sole cell supplier for the XPeng G9L. Its 5C batteries also power the new XPeng P7 Long Range, with monthly sales remaining strong. As a core co-development partner of Huawei's Giant Whale Battery Platform, CALB's products are deployed across HIMA models including Luxeed and SAIC. The company also entered Xiaomi's supply chain for the SkyNomad series, with the N90 and N70 Max equipped with CALB's 76kWh ternary lithium-ion batteries set to enter mass production and delivery.
Energy storage remained a growth driver. CALB's 314Ah Gen2 and next-generation ZHIJIU 392Ah, 588Ah and 600Ah+ large cells, plus 6.25MWh and 6.9MWh containerized systems, won recognition from domestic and international customers, supported by high energy efficiency, ultra-long cycle life and zero degradation over the first 1,000 cycles. The company deepened ties with integrators Sungrow and Huawei and developers including SPIC and China Three Gorges Renewables, while entering supplier lists in South Africa, Latin America, the United States and Israel, with new project awards and deliveries gaining momentum.
CALB operates industrial bases in Changzhou, Xiamen, Wuhan, Chengdu, Hefei, Jiangmen and Meishan, plus facilities in Europe and ASEAN, according to the company.
The profit doubling shows the strength of China's EV battery and energy storage markets as CALB competes with CATL and BYD for share. Investors will watch the full interim results for margin details and updated second-half guidance.
This article is for informational purposes only and does not constitute investment advice.
