China's battery makers report lower profits in H1

BEIJING - China's major battery manufacturers reported lower profits and revenues during the first six months of this year, official data showed.

Profits of major battery companies dropped 9 percent year-on-year to 12.48 billion yuan ($1.8 billion) in H1, according to data from the Ministry of Industry and Information Technology.

Business revenues of major battery manufacturers decreased 10 percent from one year earlier, totaling 316.9 billion yuan.

Among the industry's staple products, lithium-ion batteries logged an output of 7.15 billion units during the January-June period, up 1.3 percent year-on-year, while output of primary battery and battery packs reached 17.82 billion units, down 0.7 percent year-on-year.

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