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CATL Dominance at Risk? Goldman July Report Reveals Battery Giant's Struggles
Goldman Sachs' July 31 report shows CATL's Q2 net profit of RMB 16.5bn beat expectations by 34%, but battery unit gross profit pressured to RMB 135/kWh. Intensified domestic competition delays margin trough to 2026. Company increases capex to 24% for market share gains, solid-state battery production targeted for 2027. Goldman maintains A-share "Buy" at RMB 328, downgrades H-share to "Neutral" at HKD 436, forecasting 24% EPS CAGR 2024-2030.
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By Wall Street PodcastGoldman Sachs' July 31 report shows CATL's Q2 net profit of RMB 16.5bn beat expectations by 34%, but battery unit gross profit pressured to RMB 135/kWh. Intensified domestic competition delays margin trough to 2026. Company increases capex to 24% for market share gains, solid-state battery production targeted for 2027. Goldman maintains A-share "Buy" at RMB 328, downgrades H-share to "Neutral" at HKD 436, forecasting 24% EPS CAGR 2024-2030.