Chinese battery giant CATL announced its third-quarter results after the market close on October 20. Revenue was approximately RMB 165.2 billion, a year-on-year increase of about 59%, setting a new quarterly record; shipments exceeded 260 GWh. However, net profit attributable to the parent company was approximately RMB 21.2 billion, a year-on-year increase of about 15% but a quarter-on-quarter decrease of about 6%, falling short of market expectations. Investment banks such as Goldman Sachs, JPMorgan Chase, UBS, and Jefferies attributed the slowdown in profit growth to factors such as a weaker product mix, the impact of consumption tax, reduced export tax rebates, and inventory impairment.