China 2022-06-15T04:50:52+03:00
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China's major bicycle firms see profits surge in Jan.-April

China's major bicycle firms see profits surge in Jan.-April

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China, Manufacture, PRC, Statistic, Bicycle, bike
At the exhibition of bicycle equipment in China.Photo by Xinhua.
At the exhibition of bicycle equipment in China.Photo by Xinhua.

China's major bicycle manufacturers reported strong performance in the first four months of the year, with their combined profit and revenue both registering double-digit growth, official data showed, informed The Xinhua News Agency.

Bike manufacturers with annual operating revenue of over 20 million yuan (about 3.13 million U.S. dollars) raked in 2.28 billion yuan in profits in the January-April period, up 75.8 percent year on year, according to the Ministry of Industry and Information Technology (MIIT).

The combined operating revenue of the firms rose 58.3 percent over one year earlier to 64.09 billion yuan, MIIT data showed.

In breakdown, the total profit derived from the two-wheeled bike manufacturing of the firms jumped 198.9 percent year on year, while that for electric bike manufacturing registered 5.5 percent yearly growth.

In the January-April period, China's output of two-wheeled bikes increased 45.9 percent year on year to 15.85 million units, while electric bike production surged 64 percent year on year to 10.4 million units, MIIT data showed.

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