China's CATL beats estimates as profit growth quickens
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BEIJING, March 9 (Reuters) - Chinese electric vehicle battery maker CATL’s net profit rose by a better-than-expected 57.1% in the fourth quarter, as it navigated oversupply issues and geopolitical headwinds in the face of intensifying competition.Fourth-quarter profit rose 57.1% from a year earlier to 23.17 billion yuan ($145 million), compared with a 41.2% rise in the third quarter, the biggest gain in two-and-a-half years, according to a stock filing on Monday. The fourth-quarter number was above LSEG’s forecast of 40.9% increase. ($1 = 6.9165 Chinese yuan renminbi)
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