Shanghai (ZXZC)- CATL announced on Wednesday it earned 29.287 billion yuan ($4.578 billion) of revenues for the third quarter of 2021 (the reporting period), representing a 130.74% year-on-year hike.

Photo credit: CATL

During the reporting period, the power battery giant saw the net profit attributable to shareholders surge 130.16% over a year earlier to 3.267 billion yuan ($510.684 million). Excluding the impact of certain non-recurring gains and losses, the third-quarter net profit stood at 2.685 billion yuan ($419.678 million), soaring 125.49% from the year-ago period.

The basic earnings per share for the third quarter were 1.4108 yuan ($0.22), growing 124.19% over a year ago.

For the first three quarters, CATL's revenues and net profit attributable to shareholders amounted to 73.362 billion yuan ($11.466 billion) and 7.751 billion yuan ($1.211 billion) respectively, rising 132.73% and 130.9% year over year.

CATL said the growth in Jan.-Sept. revenues was credited to the blooming sales business. The company posted a power battery installed capacity of 46.79GWh for the first three quarters, accounting for 50.8% of China’s overall volume, according to the China Automotive Power Battery Industry Innovation Alliance.

The company recorded 4.595 billion yuan ($718.181 million) in year-to-date R&D expense, representing a 116.73% leap year-over-year.

At the end of the third quarter, CATL's total assets were 249.15 billion yuan ($38.942 billion), growing from 156.618 billion yuan ($24.479 billion) at the end of 2020.