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China's battery makers post soaring profits in Jan.-Sept.

2019-11-18 10:48

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   BEIJING, Nov. 18 (Xinhua) -- China's major battery manufacturers reported skyrocketing profits during the first nine months of this year, official data showed.

   Profits of major battery companies hiked 49.4 percent year on year to 24.52 billion yuan (about 3.5 billion U.S. dollars) during the nine-month period, according to data from the Ministry of Industry and Information Technology.

   Business revenues climbed 13.2 percent from a year earlier to 567.94 billion yuan.

   Among the industry's staple products, lithium-ion battery logged an output of 10.83 billion units during the period, up 7.7 percent year on year, while output of primary battery and battery packs reached 29.53 billion units, a 2.6-percent increase.

   Major battery companies refer to those with annual business turnover of at least 20 million yuan.
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