China's major bicycle firms report surging profits in H1
Source: Xinhua | 2021-08-22
China's major bicycle manufacturers reported strong performance in the first half of the year, with combined profit and revenue both registering double-digit growth, official data showed.
Bike manufacturers with annual operating revenue of over 20 million yuan (about 3.08 million U.S. dollars) raked in 4.16 billion yuan in profits in the January-June period, up 44.4 percent year on year, according to the Ministry of Industry and Information Technology.
Their combined operating revenue rose 42.7 percent from a year ago to 104.46 billion yuan.
In the first half of the year, China's output of non-electric bikes increased 19.7 percent year on year to nearly 25.19 million units, while electric bike production rose 33.6 percent year on year to over 16.2 million units, the data showed.
Busiunion
Busiunion