CATL, a frontrunner in the global power battery sector, unveiled its 2025 annual report on the evening of March 9, revealing a surge in both revenue and net profit. Revenue soared to RMB 423.702 billion, marking a 17.04% year-on-year growth, while net profit climbed to RMB 72.201 billion, a notable 42.28% increase. Both gross and net profit margins witnessed an uptick, starkly contrasting with the broader automotive industry's prevailing challenges. A breakdown of revenue shows that the power battery business continues to serve as CATL's cornerstone. Moreover, the company declared a cash dividend of around RMB 36.1 billion. The capital market responded favorably to the news, with several leading international investment banks revising their target prices upwards. Significantly, CATL's net profit in 2025 eclipsed the combined projected profits of 12 A-share listed automakers, with the disparity widening even further. This underscores the trend of profit concentration within the supply chain's core component sectors. Concurrently, CATL's power battery usage growth outstripped the industry average, cementing its global leadership position even further.