What CALB makes

CALB is a lithium battery manufacturer whose product output splits across three segments: power batteries for passenger electric vehicles, batteries for commercial vehicles, and energy storage systems for grid and industrial applications.

In the passenger EV market, CALB's UP product family covers vehicles from the smallest A00-class city cars through D-segment sedans, in pure-electric, hybrid, and range-extended configurations. The line spans three engineering priorities: high energy density, ultra-fast charging (5C to 10C, meaning a full charge in 6 to 12 minutes), and high-power discharge (20C to 25C) for performance applications. In 2026 CALB began mass production of a hybrid solid-liquid battery with an energy density of 400 Wh/kg, which the company says is the highest published figure for a commercially produced battery in the commercial vehicle sector. The OS battery pack, introduced in 2024, combines the pack structure and cell into a single unit using lithium iron phosphate chemistry, reducing weight and simplifying integration for OEM programs.

In commercial vehicles, the ZHIYUAN platform targets light trucks and vans. In energy storage, CALB supplies utility-scale systems for grid balancing and industrial backup, which grew faster than its auto battery business through 2024 and 2025 per the company's own interim filings.

CALB has manufacturing capacity in six Chinese provinces: Jiangsu (Changzhou/Jintan, the main facility), Fujian, Sichuan, Hubei, Anhui, and Guangdong. A factory in Thailand is operational. A EUR 2 billion gigafactory broke ground in Sines, Portugal in February 2025, targeting 15 GWh annual output and first production in 2027.

Financial performance

CALB reported revenue of RMB 44,400 million for FY2025, up 60% from RMB 27,752 million in FY2024, per audited results filed with the Hong Kong Stock Exchange in March 2026. Net profit for FY2025 reached RMB 2,095 million, a 148% increase from RMB 844 million in FY2024. Net margin improved to 4.7% from 3.0% the prior year. Berylls by AlixPartners ranked CALB 88th in its 2026 Top-100 Automotive Suppliers study at EUR 3.7 billion in automotive-sector revenue, consistent with the FY2024 figures at prevailing exchange rates.

In the first half of 2025, revenue grew 31.7% to RMB 16,419 million and net profit rose 80.4% to RMB 753 million, per the interim filing published August 2026. CALB employs approximately 14,300 people globally as of mid-2026, per HKEX filings, roughly stable from 14,323 at end-2025. The company is listed on the Hong Kong Stock Exchange under stock code 3931.

Operating income for FY2024 was RMB 1,205 million, up 58% from RMB 764 million in FY2023, on revenue that was essentially flat year on year. The 2024 revenue held steady despite lower battery prices because energy storage volume offset the pricing pressure on power batteries, per the management discussion in the FY2024 annual report.

Ownership and history

CALB traces its founding to 2007 inside China's aerospace and defense industrial complex, originally as China Aviation Lithium Battery, a subsidiary of Aviation Industry Corporation of China. The company rebranded as CALB Co., Ltd. and subsequently CALB Group Co., Ltd. as it broadened beyond aviation into automotive and commercial applications. It listed on the Hong Kong Stock Exchange in 2022 through an IPO that raised approximately USD 1.25 billion.

Liu Jingyu has served as Chairwoman and Chief Executive Officer since July 2018. She is 52. Dai Ying serves as a co-executive director and joint company secretary. No single corporate parent holds a controlling stake in the listed entity; the original state-linked aviation-industry connection is a historical lineage rather than a current operating relationship.

The company's registered office and main manufacturing campus are at No. 1 Jiangdong Road, Jintan District, Changzhou, Jiangsu Province. Its European operating company, CALB Europe S.A., is registered in Lisbon.

Certifications and quality

CALB operates a nationally recognized enterprise technology center and a post-doctoral research workstation, both designations from China's Ministry of Science and Technology, per the company's own qualifications page. The company has received a National Green Factory designation from China's Ministry of Industry and Information Technology. The company describes IATF 16949 conformance as part of its quality system -- the automotive quality management system standard required by most global OEM programs -- and holds ISO 9001 certification. Specific certificate issuance dates and scope language were not available in the English-language materials reviewed.

Known customers

These relationships span OEMs at the mid-to-high end of the Chinese market and include joint-venture brands from SAIC and Mazda, consistent with CALB's stated strategy of moving upmarket from its earlier base in volume-segment programs. 4 shown of 8 documented; additional relationships including Geely, Chery New Energy, and Arcfox are reported in company materials but were not individually verifiable in English-language IR filings reviewed.

Frequently asked questions

What does CALB make?

CALB Group manufactures lithium-ion batteries for electric vehicles, commercial vehicles, and energy storage systems. Its product families include the UP series of passenger-EV batteries in lithium iron phosphate and nickel-manganese-cobalt chemistries, the ZHIYUAN commercial-vehicle battery platform, and a hybrid solid-liquid battery with 400 Wh/kg energy density launched into mass production in 2026.

Who owns CALB?

CALB Group Co., Ltd. is publicly listed on the Hong Kong Stock Exchange under stock code 3931 since its 2022 IPO. The company originated as a subsidiary of China's aviation industry and rebranded from China Aviation Lithium Battery. Liu Jingyu serves as Chairwoman and CEO. No single corporate parent holds a controlling stake in the listed company.

What is CALB's revenue?

CALB reported revenue of RMB 44,400 million (approximately EUR 5.6 billion at 2025 exchange rates) for the year ended December 31, 2025, up 60% from RMB 27,752 million in FY2024. Berylls by AlixPartners ranked CALB 88th in its 2026 Top-100 Automotive Suppliers study at EUR 3.7 billion in automotive-sector revenue (FY2024-basis).

Where is CALB headquartered?

CALB Group is headquartered at No. 1 Jiangdong Road, Jintan District, Changzhou, Jiangsu Province, China. The company has production facilities in six Chinese provinces and a European office in Lisbon, Portugal. A EUR 2 billion gigafactory is under construction in Sines, Portugal, with first production expected in 2027.

Who are CALB's customers?

CALB's documented OEM customers include GAC (Guangzhou Automobile), XPeng, Changan, Geely, BAIC, SAIC (via the SAIC Audi Q5 e-tron), Mazda, NIO (via the Onvo brand), Arcfox, Li Auto, and Xiaomi Auto. These relationships are documented in the company's annual filings with HKEX and its own press releases. CALB is ranked 3rd in China and 4th globally by EV battery installed capacity as of H1 2025, per SNE Research data cited in company filings.

Last verified September 2026. Is this your company? Request a correction.