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China's battery makers see profits down in Jan.-May

Xinhua News,BEIJING
2020-07-04 20:07

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BEIJING, July 4 (Xinhua) -- China's major battery manufacturers reported lower profits and revenues during the first five months of this year, official data shows.

Profits of major battery companies decreased by 7.7 percent year on year to 9.46 billion yuan (about 1.34 billion U.S. dollars) during the five-month period, according to data from the Ministry of Industry and Information Technology.

Business revenues of major battery makers were 11.5 percent lower from a year earlier, totaling 249 billion yuan.

Among the industry's staple products, lithium-ion batteries logged an output of 5.51 billion units during the period, down 1.2 percent year on year.

Major battery companies are those with an annual business turnover of at least 20 million yuan.
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