Listed Energy Storage Companies Posted ¥152B Net Profit Last Year, with CATL Alone Accounting for 47%
N.R. Finch
China's 100 listed energy-storage companies earned a combined ¥152 billion in net profit in 2024, up 65% year-on-year — but CATL alone captured 47% of the total, signaling that profitability in the sector is concentrating sharply at the top.
¥152 billion in profit — how fast is the sector growing?
The 100 listed energy-storage firms posted combined net profit of ¥152 billion in 2024, up 65% year-on-year.
This means → energy storage as a whole is still in a high-growth phase, with profit growth far outpacing most manufacturing sectors.
Yet the gains are unevenly spread: 17 companies reported losses, revealing a stark divide within the industry.
Why did CATL take nearly half the profit?
CATL (宁德时代) posted full-year net profit of ¥72.2 billion, up 42.28%, accounting for 47% of the industry total.
In plain terms = out of every two yuan the sector earned, almost one went to CATL — roughly ¥200 million in net profit per day.
The company also declared a cash dividend of ¥69.57 per 10 shares, returning profits directly to shareholders.
Beyond CATL, who else made the top tier?
The top five by profit were CATL, Sungrow (阳光电源), Huayou Cobalt (华友钴业), Inovance (汇川技术), and EVE Energy (亿纬锂能).
Sungrow, a leading player in the solar-plus-storage segment, also delivered strong earnings.
This reflects a top tier that spans batteries, materials, motor controls, and solar-storage — not a single sub-sector monopoly.
Who is losing money — and how deep is the divide?
Of the 100 companies, 17 posted losses. The three largest loss-makers were ST Narada, Shengxin Lithium, and Hymson.
This means → nearly one in five firms failed to turn a profit; a shakeout is already under way.
In plain terms = the leader nets ¥200 million a day while the tail still bleeds — the wealth gap inside energy storage is widening fast.
Content is for reference only, not financial advice.