On March 16th, CATL (300750. SZ) released an investor relations activity record table, stating that since the second half of 2024, the company’s capacity utilization rate has been full, with a 20% increase in capacity utilization rate compared to the first half. The annual capacity utilization rate was 76.3%. The company is currently developing the second generation sodium battery, which has performance indicators close to lithium iron phosphate batteries. It is expected that by 2025, the shipment proportion of Shenxing and Qilin batteries in the company’s LFP and NCM products will increase to 60-70%. In addition, due to the high power consumption and need for stable power in data centers, there is a high demand for the quality of energy storage batteries, which will be a high-quality incremental market in the future. From the current trend, the amount of data center storage is also increasing. For example, the company’s UAE project has reached a scale of 19GWh, which is just the beginning.
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