In the first half of 2025, Contemporary Amperex Technology Co., Ltd. (CATL) recorded revenue of USD25.02 billion (RMB178.89 billion). Tinci Materials achieved operating revenue of USD983.13 million, marking a 28.97% YoY increase. However, the company's gross profit margin declined by 0.16 percentage points YoY to 18.69%, indicating a challenge of revenue growth without corresponding profit expansion.
Major market dynamics
- On 23 August, 2025, Jiangxi Ganfeng Lithium Group Co., Ltd.'s H1 2025 report shows that net profit attributable to shareholders of the listed company was -USD74.26 million (RMB531.24 million).
- On 2 August, 2025, Ningbo Ronbay New Energy Technology Co., Ltd.'s H1 2025 report shows that the company's overall gross profit margin was 8.57%, an increase of 0.78 percentage points compared to the same period last year.
- On 11 August, 2025, the signing ceremony for the cooperation project between the People's Government of Suzhou City and Chery Holding Group (Chery Automobile) to build a lithium-ion battery production base in Dangshan was held.
- On 9 August, 2025, CATL suspended operations at one of its affiliated mining sites, sending ripples through the relevant capital markets. Although the stoppage is expected to have only a limited impact on the industry, it has been interpreted as a signal that the sector is moving to abandon zero-sum competition.
The USD/RMB exchange rate in this newsletter is USD1.00=RMB7.1496 on 1 August., 2025, sourced from the People's Bank of China.
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- BYD battery expansion project approved
- Update on Taihe Technology's solid-state battery-related products
- Import and export of major Li-ion battery materials and Li-ion batteries in China in July 2025
- Prices of major Li-ion battery materials in China in August 2025
- Anode materials prices slightly increase in August
- Cathode materials prices continue to rise in August

