Tesla's Q1 profits soared this year, with revenue up 81% year-on-year

After earning 15.9 billion yuan in net profit, the official announcement of CATL that no dividends will cause controversy

On April 21, the financial report data released by CATL showed that the total operating income in 2021 was 130.356 billion yuan, a year-on-year increase of 159.06%, and the net profit attributable to shareholders of listed companies was 15.931 billion yuan, a year-on-year increase of 185.34%.

However, when the net profit exceeded 15 billion yuan, Ningde Times said that in 2021, it will not distribute cash dividends, send bonus shares, and not use provident funds to increase share capital, and the remaining undistributed profits will be carried forward to future years.It is also this matter that once aroused heated discussions among netizens.

In response, the relevant person in charge of Ningde Times responded, "The company's private placement work is in the process of implementation. According to the "Administrative Measures for Securities Issuance and Underwriting", if there is a profit distribution plan that has been voted by the shareholders' meeting but has not been implemented, before the implementation of the plan , the lead underwriter shall not underwrite the issuance of securities."

In addition, the person in charge also said that CATL expects to have major investment plans and cash expenditures in production capacity construction, R&D investment, and raw material procurement this year, and decided not to distribute profits in 2021, also taking into account the company's development stage and future funds. Due to factors such as demand, the progress of the private placement, and the long-term interests of shareholders, after the completion of the private placement, profits will be distributed in accordance with relevant laws and regulations and the company's articles of association to provide investors with a reasonable return on investment.

Specifically, the business of CATL actually covers power batteries, energy storage and lithium battery materials.

Among them, the sales of power battery systems was the main source of income for CATL last year, with sales revenue of 91.491 billion yuan, a year-on-year increase of 132.06%, accounting for 70.19% of the total revenue.

This is due to the increase in the penetration rate of the new energy vehicle market, which has driven the growth of CATL's power battery business. At the same time, CATL has also made progress in market development.

It is understood that Tesla was the largest customer of CATL last year, purchasing power batteries worth about 13 billion yuan from it.In addition, CATL also maintains long-term strategic cooperation with global customers such as Tesla, Hyundai, Ford, Daimler, Great Wall, Ideal, and Weilai.

Under this circumstance, CATL also achieved a sales volume of 133.41GWh of lithium-ion batteries last year, a year-on-year increase of 184.82%, of which the sales volume of power battery systems was 116.71GWh, a year-on-year increase of 162.56%.

In addition, the two major businesses of CATL’s energy storage system and lithium battery material sales also ushered in substantial growth, with sales revenue of 13.624 billion yuan and 15.457 billion yuan respectively, a year-on-year increase of 601.01% and 350.74%.

It is reported that mainly driven by the demand for downstream new energy vehicles, customers have strong demand for battery materials, and the sales of lithium battery materials in Ningde Times have increased accordingly.