In China, the profits of the largest battery manufacturers fell

The profits of the largest battery manufacturers in China fell in the first five months of the year, Xinhua News Agency reported. The profit of such companies decreased by 7.7% year on year between January and May of this year, amounting to 9.46 billion yuan (about $1.34 billion), the Ministry of Industry and Information Technology said. Revenue from the business of the largest manufacturers of batteries in the country was 11.5% lower than a year earlier for the indicated period, amounting to 249 billion yuan. Lithium-ion batteries produced 5.51 billion units during this time, which is 1.2% lower than a year earlier. Note that the largest manufacturers of batteries in China are those companies whose annual turnover from business is at least 20 million yuan.