China's battery manufacturing industry sees soaring net profit in January-July
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E-mail Xinhua, September 22, 2019
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China's battery enterprises above designated size reported a hefty growth in net profit during the January-July period, according to the Ministry of Industry and Information Technology.
The total profit surged 63.7 percent year on year to 16.47 billion yuan (about 2.33 billion U.S. dollars) in the first seven months, the ministry said.
Meanwhile, business revenue of the enterprises increased 14.5 percent to 408.92 billion yuan in the period.
Among the main products of the industry, the output of lithium-ion battery in the period increased 10 percent to 8.32 billion units from one year earlier.
The output of lead acid battery stood at 111.78 million kilovolt-ampere-hours in the seven months, up 4 percent year on year, the ministry added.
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