CATL shares fall 3.73% in Shenzhen amid slower profit growth and company expansion
Key Facts
CATL shares in Shenzhen fell 3.73% on Friday, November 6, 2026, according to NAATBatt, in a session that coincided with the company’s continued expansion beyond electric-vehicle batteries. The source gave no specific explanation for the stock move, so it cannot be linked to a particular cause. The decline follows third-quarter results showing net profit growth slowing to 14.5% year over year. CATL also continued to announce collaborations in energy storage and aviation in the preceding days. These developments place the share move in a context combining slower profit growth with the company’s expansion into new markets and applications.
CATL’s third-quarter net profit was 21.2 billion yuan, up 14.5% from the same period a year earlier, according to figures reported by Reuters. This was the slowest growth in about two years and fell short of analysts’ estimate for an increase of 41.2%. Growth also slowed from a 36.5% rise in profit in the second quarter. Revenue rose 58.6% to 165.2 billion yuan, but came in below expectations for 60.2% growth. Reuters attributed the slower profit growth to intense competition in the electric-vehicle battery market and slower growth in car sales in China.
Market data cited by Reuters showed CATL’s share of China’s installed power-battery market fell to 40.9% in September from 49.8% in January. Over the same period, BYD’s share rose to 21.1% from 17.4%. These figures add competitive context to the slower profit growth, as CATL continues to expand its business in other areas. In its full-year 2025 results, the company reported revenue of 423.7 billion yuan, up 17%, and net profit of 72.2 billion yuan, an increase of 42%. The prior-year results provide a reference for the company’s scale and growth before profit growth slowed in the third quarter.
On new business, Octopus Energy and Ampace signed a memorandum of understanding on November 3 to explore next-generation smart home energy-storage solutions. Octopus said the collaboration would begin by exploring opportunities in European markets, drawing on its digital platform and smart energy tariffs, as well as CATL and Ampace’s battery and manufacturing capabilities. The memorandum provides a framework for exploring collaboration opportunities and does not announce the launch of an existing product. The partnership gives CATL a presence in home energy storage alongside the electric-vehicle battery market. Initial collaboration will focus on markets where Octopus operates in energy retail.
In larger-scale energy storage, CATL and INTILION signed a memorandum of understanding in October for plans to deploy 3 gigawatt-hours of TENER systems in Germany, Switzerland, Austria and other markets over the next five years. CATL says the system, designed for Europe’s cold climate, provides more than 15,000 charge and discharge cycles, with a service life of up to 25 years. These are specifications provided by the company for the system, while the plan calls for the capacity to be deployed across multiple markets during the stated period. The agreement reflects CATL’s expansion into stationary energy storage alongside its collaboration on home batteries. The available details of the memorandum do not specify a more precise start date for deployment.
Blue Vector and CATL also announced a strategic cooperation agreement and a product cooperation agreement on November 2 to develop aviation power batteries for the SKYLA V30 electric aircraft. According to an announcement by Skyla Aviation, CATL will develop battery products tailored to the aircraft. This collaboration adds an energy application beyond cars and stationary storage as the company expands into different sectors. On shipments, Chief Executive Robin Zeng said on October 31 that CATL expects to exceed 1,000 gigawatt-hours in 2026, after shipping 661 gigawatt-hours in 2025. The expected volume remains management guidance for 2026, while the previous year’s shipments were an achieved result.