China's major battery companies report soaring profits

Source: Xinhua| 2019-10-26 15:25:00|Editor: Li Xia
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BEIJING, Oct. 26 (Xinhua) -- China's major battery manufacturers reported skyrocketing profits during the first eight months, official data showed.

Profits of major battery companies soared 45.1 percent year on year to 19.85 billion yuan (about 2.8 billion U.S. dollars) during the period, according to data from the Ministry of Industry and Information Technology.

Revenues jumped 13.5 percent from a year earlier to 490.91 billion yuan.

Lithium-ion battery output hit 9.38 billion during the period, up 6.5 percent year on year, while output of primary battery and battery packs amounted to 26.02 billion, up 3.4 percent year on year.

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

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