CALB posted a robust 65% year-on-year revenue growth in the first half of 2026, driven by strong growth in battery shipments and gains in battery prices. However, gross margin lost 80 basis points, indicating rising cost pressure amid prolonged industry competition.
EV battery demand will remain resilient driven by the global vehicle electrification trend. As one of the leading players, CALB will benefit from the robust battery demand growth.
Bears
Given low pricing power, fluctuation in the raw materials prices will significantly affect CALB’s profitability, resulting in volatility and uncertainty in earnings forecast.
Headquartered in Changzhou, Jiangsu Province, CALB a leading new energy company specializing in the development, production, sales, and market application of lithium-ion batteries, battery management systems and related integrated products, and lithium battery materials. The company’s products mainly include electric vehicle batteries and energy storage system products. Established in 2015 via a spinoff from parent company, which was ultimately controlled by Aviation Industry Corporation of China, CALB has become one of the leading EV battery companies. With 5% market share in 2025 in terms of installed capacity, CALB ranked fourth among global EV battery companies and third in China with 7% share.