BEIJING, July 24 (Reuters) – Chinese battery giant CATL posted a 42% year-on-year rise in first-half net profit, supported by robust growth in its energy storage business that offset softer demand in the electric vehicle market.
Net profit climbed to 43.3 billion yuan ($6.39 billion) in the first six months, while revenue increased 54.8% to 276.9 billion yuan, according to a stock exchange filing on Friday.
($1 = 6.7719 Chinese yuan renminbi)
(Reporting by Qiaoyi Li, Zhang Yan, Xiuhao Chen and Ju-min Park; Editing by Joe Bavier)
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