(ECNS) -- Chinese battery manufacturing giant CATL stated during its earnings briefing on Tuesday that tariffs imposed by the U.S. government have little impact on company performance.
Business with the U.S. clients accounts for a relatively small portion of its total output and it has prepared contingency plans in response to environmental changes since last year, said CATL.
"CATL is actively negotiating solutions with our customers," it said.
A stock market filing showed on Monday that the first-quarter net profit of the company reached 14 billion yuan, surpassing the estimated 13.8 billion yuan. Revenue rose slightly more than 6% year-on-year to 84.7 billion yuan, slightly below market expectations.
Net profit in the first quarter in 2025 reached billion yuan (about $1.91 billion), higher than the expected 13.8 billion yuan before, and its revenue was up 6.2% at 84.7 billion yuan.
Bloomberg said earlier that U.S. president Donald Trump hopes to stop products made by China from entering the U.S. market, so CATL has been safeguarding itself from U.S. policy impacts through technology licensing, expanding R&D, and sourcing raw materials from more neutral regions.
The company's quarterly R&D spending increased by 11% to 4.8 billion yuan, Bloomberg reported.
(By Zhang Dongfang)
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