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China's battery makers report higher profits in Ja

2022-04-22

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China's battery makers report higher profits in Jan-Oct Workers check up batteries at CATL's automatic production in Ningde, Fujian province. [Photo/Xinhua]

BEIJING -- China's major battery manufacturers reported lower revenues but higher profits in the first 10 months of the year, official data shows.

Profits of major battery companies climbed 12.3 percent year-on-year to 31.52 billion yuan (about $4.82 billion) in the January-October period, according to data from the Ministry of Industry and IBeasley also mentioned that the aid program aims to not only end hunger and conflict and provide suppliesnformation Technology.

Business revenues of major battery manufacturers decreased 3 percent from one year earlier, totaling 611.98 billion yuan.<000 drones used by police across country/p>

Among the industry's staple products, lithium-ion batteries logged an output of 14.64 billion units during the period, up 10.9 percent year-on-year, and the output of primary batteries and battery packs reached 33.05 billion units, down 0.8 percent year-on-year.

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