BEIJING (Reuters) – Chinese electric vehicle battery giant CATL’s second-quarter net profit jumped 13.4% year on year, a stock market filing showed on Friday, extending gains for a second straight quarter.
CATL reported 12.36 billion yuan ($1.70 billion) in profit for the April-June quarter on a 13.2% drop in revenue to 87 billion yuan, according to Reuters calculations based on its disclosure. First-half profit was up 10.4% at 22.86 billion yuan.
($1 = 7.2512 Chinese yuan renminbi)
(Reporting by Qiaoyi Li, Zhang Yan and Sarah Wu; Editing by David Goodman)
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