Key facts
- CATL plans to repurchase up to 40 billion yuan ($5.9 billion) of its shares.
- The buyback is the largest single share repurchase in the history of China's mainland stock market.
- The company reported a first-half net profit of 43.28 billion yuan, up 41.98% year-over-year.
- First-half revenue increased by 54.8% to 276.92 billion yuan.
- Energy storage sales saw an 87.54% increase year-over-year.
Contemporary Amperex Technology Co. Ltd. (CATL) plans to repurchase up to 40 billion yuan ($5.9 billion) of its shares for cancellation, marking the largest single buyback in the history of China's mainland stock market. The company intends to spend between 20 billion and 40 billion yuan, with a maximum purchase price of 573 yuan per share, pending shareholder approval.
This move follows CATL's strong first-half 2026 financial results, which included a net profit of 43.28 billion yuan, a 41.98% surge year-over-year. First-half revenue hit 276.92 billion yuan, an increase of 54.8% compared to the same period last year. Power battery revenues rose 46.02% year-over-year, while energy storage sales experienced a significant jump of 87.54%. The company maintained a gross margin of 23.93%.
CATL's Shenzhen-listed shares surged following the announcement of the buyback plan and the robust earnings report. At the upper limit of the buyback, approximately 1.51% of CATL's total share capital could be retired.