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CATL to report record profit in 2024 despite revenue decline amid lithium price slump
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TechNode
The Chinese battery giant is also developing new businesses and overseas markets to counter slowing growth and fierce competition.
Nevertheless, net profit for 2024 is expected to be between RMB 49 billion and 53 billion, up by between 11% and 20% year-on-year.
CATL said the profit growth was achieved by new product and technology launches, which also contributed to the company deepening its ties with clients.
CATL is set to report its full-year results on Mar.
It also provides its battery energy storage systems (BESS) to overseas projects in countries including the United Arab Emirates and the US.
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