CATL's operating income analysis by product

CATL's operating income by product in 2023 mainly includes power battery systems, energy storage battery systems, battery materials and recycling, battery mineral resources and other businesses. Among them, power battery system revenue accounts for the highest proportion, reaching 71.15%, followed by energy storage battery system revenue accounting for 14.94%, battery materials and recycling revenue accounting for 8.38%, battery mineral resources revenue accounting for 1.37%, and other business revenue accounting for 3.60%.