# CATL in March reported a net profit of 72.2 billion yuan (US$10.6 billion) for last year.

*business · news · 2026-04-12 · South China Morning Post*

## Key points

- CATL reported a net profit of 72.2 billion yuan in 2023, up 42 percent year-on-year.
- CATL's 2023 profit is only 8 percent less than the combined profits of China's top four carmakers.
- CATL earned 2 percent more profit than all 11 listed Chinese carmakers combined, including loss-makers.
- The top three EV battery makers control over 70 percent of the total EV battery market.

**Companies:** CATL, BYD, Chery, Geely Auto, SAIC
**Countries:** China

[Read the full story on South China Morning Post](https://www.scmp.com/business/china-evs/article/3349723/how-chinas-ev-battery-king-catl-powers-profits-while-ev-makers-struggle)

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