Contemporary Amperex Technology Co., Limited (300750.SZ) Bundle
How healthy is Contemporary Amperex Technology Co., Limited (300750.SZ) right now? With Q3 2025 revenue of ¥104.19 billion (up 12.90% year-over-year) and TTM revenue of ¥386.04 billion (up 5.68% YoY) against a 2024 annual backdrop of ¥362.01 billion (down 9.70% from 2023), CATL shows mixed top-line momentum; productivity sits at ¥2.92 million revenue per employee across 131,988 staff and the stock trades at a P/S of 4.61 with market cap near ¥249.77 billion. Profitability signals are stronger: Q3 2025 net profit attributable to shareholders was ¥18.55 billion (up 41.21%), net margin rose to 17.8% from 14.5%, nine-month ROE is 15.6% and EPS for the period is ¥11.02 (up >34%). The balance sheet shows total assets of ¥896.08 billion (+13.91%) and shareholders' equity of ¥314.25 billion (+27.26%), alongside conservative financials (financial expense -¥2.288 billion, investment income ¥1.339 billion, asset impairment ¥1.11 billion); liquidity and cash generation are healthy with operating cash flow of ¥80.66 billion (up 19.60%), an interim dividend of ¥10.07 per 10 shares and a payout ratio of 0.14 (dividend yield 0.52%). Valuation and market views are mixed-average one-year price target CN¥478.21 vs consensus CN¥342, and analysts hold 54 buys and 1 hold-while growth levers include a 38.1% global power-battery market share (Jan-May 2025) and leadership in energy storage; risks include geopolitics, raw-material price swings, regulatory shifts and competitive tech advances. Read on to explore the detailed metrics, leverage profile, liquidity dynamics, valuation implications and the specific risks and opportunities that will shape CATL's next chapters.
Contemporary Amperex Technology Co., Limited (300750.SZ) - Revenue Analysis
Contemporary Amperex Technology Co., Limited (300750.SZ) exhibited mixed revenue dynamics through 2024-2025, with quarter-level acceleration but a prior-year decline at the annual level. Key headline figures and contextual metrics are summarized below to frame revenue growth, scale and valuation.- Q3 2025 revenue: ¥104.19 billion - up 12.90% year-over-year (YoY) vs Q3 2024.
- TTM revenue (as of Sep 2025): ¥386.04 billion - up 5.68% YoY.
- Annual revenue 2024: ¥362.01 billion - down 9.70% vs 2023.
- Workforce: 131,988 employees; revenue per employee: ~¥2.92 million.
- Market capitalization: ~¥249.77 billion; price-to-sales (P/S) ratio: 4.61.
| Metric | Value | YoY / Comment |
|---|---|---|
| Q3 2025 Revenue | ¥104.19 billion | +12.90% vs Q3 2024 |
| TTM Revenue (Sep 2025) | ¥386.04 billion | +5.68% YoY |
| Annual Revenue 2024 | ¥362.01 billion | -9.70% vs 2023 |
| Employees | 131,988 | - |
| Revenue per Employee | ¥2.92 million | - |
| Market Capitalization | ¥249.77 billion | - |
| Price-to-Sales (P/S) | 4.61 | Moderate valuation vs sales |
- Quarterly acceleration in Q3 2025 (+12.9%) suggests improving demand or pricing dynamics after the 2024 annual decline (-9.7%).
- TTM growth of 5.68% indicates recovery but still modest relative to historical expansion rates in the EV battery sector.
- Revenue per employee (~¥2.92M) highlights scale efficiency; compare operational productivity against peers when assessing labor- or capex-driven margins.
- P/S of 4.61 combined with ¥249.77B market cap reflects investor expectations for future margin and revenue expansion despite near-term cyclicality.
Contemporary Amperex Technology Co., Limited (300750.SZ) - Profitability Metrics
- Q3 2025 net profit attributable to shareholders: ¥18.55 billion (↑41.21% YoY).
- Q3 2025 net profit margin: ~17.8% (Q3 2024: 14.5%).
- Return on equity (ROE), nine months ending September 2025: 15.6%.
- Basic earnings per share (EPS), nine months: ¥11.02 (↑>34% YoY).
- Gross profit margin improved as net profit growth outpaced revenue growth.
- Analysts maintain a 'recommended' rating on the stock.
| Metric | Q3 2024 | Q3 2025 | 9M 2024 | 9M 2025 |
|---|---|---|---|---|
| Net profit attributable (¥ billion) | - | 18.55 | - | - |
| YoY net profit growth | - | +41.21% | - | - |
| Net profit margin | 14.5% | 17.8% | - | - |
| Return on equity (ROE) | - | - | - | 15.6% |
| Basic EPS (¥) | - | - | ≈8.22 | 11.02 |
| Analyst sentiment | Recommended | Recommended | Recommended | Recommended |
- Profitability drivers: margin expansion, operational leverage, and controlled costs leading to gross and net margin improvement.
- Investor implications: higher EPS and ROE signal efficient capital use; margin trajectory supports valuation premium.
Contemporary Amperex Technology Co., Limited (300750.SZ) - Debt vs. Equity Structure
Contemporary Amperex Technology Co., Limited shows a visibly stronger equity base through Q3 2025 while maintaining conservative leverage signaling financial flexibility and risk control.- Total assets (Q3 2025): ¥896.08 billion - up 13.91% year-over-year from prior year-end.
- Shareholders' equity (Q3 2025): ¥314.25 billion - up 27.26% year-over-year.
- Debt-to-equity ratio: not explicitly reported; material equity growth implies lower reliance on incremental debt financing.
| Metric | Amount (¥) | YoY Change | Notes |
|---|---|---|---|
| Total Assets (Q3 2025) | 896.08 billion | +13.91% | Expanded asset base vs. prior year-end |
| Shareholders' Equity (Q3 2025) | 314.25 billion | +27.26% | Stronger equity cushion |
| Financial Expense (Q1 2025) | -2.288 billion | - | Reduction in financing costs (benefit) |
| Investment Income (Q1 2025) | 1.339 billion | - | Positive non-operating contribution |
| Asset Impairment (Q1 2025) | 1.11 billion | - | Prudent write-downs reflecting risk management |
- Leverage posture: With equity rising faster than assets, the implied leverage ratio has likely moderated; management appears focused on deleveraging or avoiding incremental debt.
- Cost of financing: Negative financial expense (benefit) in Q1 2025 suggests lower interest burden or net investment gains offsetting interest costs.
- Capital allocation signals: Positive investment income and controlled impairment indicate disciplined asset management alongside growth.
Contemporary Amperex Technology Co., Limited (300750.SZ) Liquidity and Solvency
Contemporary Amperex Technology Co., Limited (300750.SZ) shows strong operating cash generation and a conservative capital distribution policy that together support short- and long-term solvency. Key reported figures for the first nine months of 2025 and related indicators are summarized below.- Operating cash flow (9M 2025): ¥80.66 billion (up 19.60% YoY).
- Interim dividend (six months ended June 30, 2025): ¥10.07 per 10 shares.
- Dividend payout ratio: 0.14 - indicates conservative profit distribution and reinvestment capacity.
- Analyst sentiment: 54 buy ratings and 1 hold - strong market confidence in solvency and outlook.
| Metric | Value | Notes |
|---|---|---|
| Operating Cash Flow (9M 2025) | ¥80.66 billion | +19.60% YoY |
| Interim Dividend | ¥10.07 per 10 shares | Declared for H1 2025 |
| Dividend Payout Ratio | 0.14 | Conservative payout, supports capex and R&D |
| Current Ratio | Not specified | Inferred healthy given strong operating cash flow |
| Quick Ratio | Not specified | Likely adequate based on liquidity generation |
| Analyst Ratings | 54 Buy / 1 Hold | Market confidence in solvency and growth prospects |
- Liquidity interpretation: Robust operating cash flow enhances short-term liquidity cushions and reduces reliance on external financing for working capital.
- Solvency interpretation: Conservative dividend policy (14% payout) and positive analyst coverage support balance-sheet resilience and capacity to fund capex/R&D.
- Data gaps: Absence of explicit current and quick ratios requires investors to infer liquidity from cash flow and balance-sheet trends; monitoring quarterly statements is recommended.
Contemporary Amperex Technology Co., Limited (300750.SZ) - Valuation Analysis
Contemporary Amperex Technology Co., Limited (300750.SZ) shows mixed signals in market pricing versus fundamentals: moderate sales-based valuation, sizable market capitalisation, low dividend distribution, and strong analyst conviction despite a flat consensus target.- Average one-year price target: CN¥478.21 (implies +21.34% vs prior estimate CN¥394.10).
- Consensus price target: CN¥342 (unchanged), suggesting limited long-term re-rating from recent earnings upgrades.
- Price-to-sales (P/S) ratio: 4.61 - a moderate premium to sales, reflecting growth expectations and industry positioning.
- Market capitalization: ≈ CN¥249.77 billion, marking CATL as a major market participant.
- Dividend yield: 0.52%; payout ratio: 0.14 - conservative shareholder distributions, prioritising reinvestment.
- Analyst ratings: 54 Buys, 1 Hold - strong sell-side confidence in future performance.
| Metric | Value | Implication |
|---|---|---|
| Average 1Y Price Target | CN¥478.21 | Upside vs recent prior CN¥394.10 (+21.34%) |
| Consensus Price Target | CN¥342 | Unchanged - limited long-term re-rating implied |
| P/S Ratio | 4.61 | Moderate valuation vs revenue |
| Market Capitalization | CN¥249.77 billion | Large-cap scale in battery manufacturing |
| Dividend Yield | 0.52% | Low cash return to shareholders |
| Payout Ratio | 0.14 | Conservative dividend policy |
| Analyst Ratings | 54 Buy / 1 Hold | Predominantly bullish sentiment |
- Valuation context: the P/S of 4.61 must be judged against peers, growth trajectory, margin trends, and capex intensity in cell manufacturing and EV supply chains.
- Market sentiment: heavy buy-side analyst positioning supports momentum but the unchanged CN¥342 consensus target signals skepticism about sustainable value creation from recent earnings gains.
- Income return: 0.52% yield and 0.14 payout ratio indicate retained earnings for expansion rather than shareholder cash distributions.
Contemporary Amperex Technology Co., Limited (300750.SZ) - Risk Factors
Contemporary Amperex Technology Co., Limited (300750.SZ) operates in a high-growth, capital- and technology-intensive sector where rapid demand shifts, commodity cycles and geopolitical dynamics materially affect financial performance. Below are the principal risk factors investors should weigh, with quantified context where available.- Geopolitical and market-access risk
- Unpriced/new-business opportunity and execution risk
- Raw material price volatility
- Regulatory and policy risk
- Competitive and technological risk
- Supply chain and operational disruption
| Risk | Estimated Probability | Potential Near-Term Financial Impact | Common Mitigation |
|---|---|---|---|
| Geopolitical/market access | Medium-High | Revenue downside 2-6% annually if constrained in key markets | Diversified customer base; local partnerships; compliance programs |
| New-business execution | Medium | High upside/loss of R&D spend; potential impairment of several % of EPS | Stage-gated pilots; JV structures; targeted capex allocation |
| Raw material volatility | High | Gross margin compression 3-8% under adverse swings | Long-term supply contracts; vertical integration; hedging |
| Regulatory changes | Medium | Repricing of orders; margin pressure in affected regions | Policy engagement; portfolio localization; regulatory monitoring |
| Competitive tech advances | Medium | Market share erosion over multi-year horizon | Increased R&D; strategic M&A; IP protections |
| Supply chain disruption | Medium-High | Production delays; penalty/fulfillment costs; short-term revenue hits | Multi-sourcing; inventory buffers; localized production |
- Revenue: RMB 388 billion
- Net profit: RMB 44-46 billion
- Global EV battery market share: ~30-35%
- R&D spend: ~RMB 24-30 billion (company-wide disclosures + industry estimates)
Contemporary Amperex Technology Co., Limited (300750.SZ) - Growth Opportunities
Contemporary Amperex Technology Co., Limited (300750.SZ) sits at the center of several high-conviction growth vectors driven by market share leadership, product diversification, strategic OEM partnerships, and advancing battery technology.- Market leadership: CATL's global market share in power batteries reached 38.1% in January-May 2025, up 0.6 percentage points year-over-year, underpinning pricing power and scale advantages.
- Energy storage dominance: The company ranked first globally in energy storage battery production as of January-June 2025, positioning it to capture industrial, grid-scale, and commercial opportunities beyond EVs.
- OEM partnerships: Long-term supply and co-development agreements with major automakers such as Tesla, Toyota, and Ford create recurring revenue streams and accelerate technology adoption across vehicle segments.
| Metric | Figure | Period / Notes |
|---|---|---|
| Global power battery market share | 38.1% | Jan-May 2025 (+0.6 pp YoY) |
| Energy storage production ranking | 1st | Jan-Jun 2025 (global) |
| Strategic OEM partners | Tesla, Toyota, Ford | Supply & co-development agreements |
- R&D and next-generation tech: Continued investment in next-generation batteries (including solid-state research and cell chemistry innovations) aims to improve energy density, safety and cost per kWh - critical levers for adoption and margin expansion.
- Battery swapping and service models: Development of battery swapping systems and related service ecosystems can open recurring revenue channels (swap-as-a-service, subscription) and faster vehicle turnaround in urban fleets.
- Geographic expansion: Penetration into emerging markets and localized production can increase addressable demand and reduce logistics/currency exposure.
Contemporary Amperex Technology Co., Limited (300750.SZ) DCF Excel Template
5-Year Financial Model
40+ Charts & Metrics
DCF & Multiple Valuation
Free Email Support
Disclaimer
All information, articles, and product details provided on this website are for general informational and educational purposes only. We do not claim any ownership over, nor do we intend to infringe upon, any trademarks, copyrights, logos, brand names, or other intellectual property mentioned or depicted on this site. Such intellectual property remains the property of its respective owners, and any references here are made solely for identification or informational purposes, without implying any affiliation, endorsement, or partnership.
We make no representations or warranties, express or implied, regarding the accuracy, completeness, or suitability of any content or products presented. Nothing on this website should be construed as legal, tax, investment, financial, medical, or other professional advice. In addition, no part of this site—including articles or product references—constitutes a solicitation, recommendation, endorsement, advertisement, or offer to buy or sell any securities, franchises, or other financial instruments, particularly in jurisdictions where such activity would be unlawful.
All content is of a general nature and may not address the specific circumstances of any individual or entity. It is not a substitute for professional advice or services. Any actions you take based on the information provided here are strictly at your own risk. You accept full responsibility for any decisions or outcomes arising from your use of this website and agree to release us from any liability in connection with your use of, or reliance upon, the content or products found herein.