BEIJING — China's major battery manufacturers reported rapid growth in profits and revenues in the first eight months of the year, official data showed.
Profits of major battery companies expanded 66.1 percent year-on-year to 33.13 billion yuan (about $5.2 billion) in the January-August period, according to the Ministry of Industry and Information Technology (MIIT).
Business revenues of major battery makers stood at 662 billion yuan during the period, up 47 percent from a year earlier, MIIT data showed.
Among the industry's staple products, lithium-ion batteries logged an output of 14.6 billion units, up 38.7 percent year-on-year, while the output of primary batteries and battery packs climbed 7.2 percent year-on-year to 27.57 billion units.
Major battery companies refer to those with an annual business turnover of at least 20 million yuan.