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CATL triples quarterly profit

China’s leading battery manufacturer CATL tripled its profit in the third quarter. The company reported on the Shenzhen Stock Exchange on Friday that sales between July and September rose by 233 percent year-on-year to ¥97 billion (about €14 billion). Net profit was at ¥9.4 billion (just over €1.3 billion). Analysts expect the company’s profitability to improve further next year thanks to its investment in battery metals and an expected increase in lithium production.

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