BEIJING, April 15 (Reuters) - Chinese electric vehicle battery giant CATL’s (300750.SZ) net profit growth slowed in the first quarter, as domestic EV demand softens, intensifying supplier competition.
First-quarter net profit rose 48.5% in the first quarter from a year earlier to 20.7 billion yuan ($3.03 billion), versus a 57.1% increase in the fourth quarter, according to a stock filing on Wednesday. That beat estimated growth of 20.9% in a poll of analysts complied by LSEG.
Revenue rose 52.5% to 129.1 billion yuan, against a 36.6% increase in the fourth quarter and above analysts’ forecast of a 35.7% gain.
($1 = 6.8205 Chinese yuan renminbi)

China's CATL posts slower profit growth in first quarter