Contemporary Amperex Technology Co. Ltd. (CATL), the world's largest battery maker for electric vehicles, reported a significant financial performance for the year 2023. The company achieved an operating income of 400.9 billion yuan, marking a 22.01% increase from the previous year. Additionally, CATL's net income attributable to shareholders rose to 44.121 billion yuan, a 43.58% year-on-year increase. Despite this annual growth, CATL faced its first quarterly net profit decline since Q2 2022. This downturn, referred to as the first profit fall since Q2 2022, was attributed to challenges such as increased competition from smaller rivals and a decrease in demand. However, CATL managed to regain market share and beat full-year net income estimates by leveraging a slump in input costs and successfully fending off competition.