BEIJING (Reuters) - CATL reported 15% growth in 2024 net profit, the slowest pace in six years, as a prolonged price war in China's electric vehicle market put pressure on the Chinese EV battery giant.

Net profit was up 15% last year to 50.7 billion yuan ($7.01 billion), versus its forecast of 11.1-20.1%, according to a stock filing on Friday. Revenue came in at 362 billion yuan, down 9.7%, the first annual revenue fall since CATL started releasing its operating figures in 2015.

Adjusted product prices for declining costs of raw materials such as lithium carbonate resulted in a fall in operating income despite rising sales volume, the company said in January.

($1 = 7.2324 Chinese yuan renminbi)