China 2022-09-15T04:48:46+03:00
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China's major bicycle firms see revenue, profit growth

China's major bicycle firms see revenue, profit growth

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China, industry, PRC, Bicycle, Bikes
Workers assemble bicycle parts at a factory in Wuqing district of north China's Tianjin. Photo by Sun Fanyue/Xinhua.
Workers assemble bicycle parts at a factory in Wuqing district of north China's Tianjin. Photo by Sun Fanyue/Xinhua.

China's major bicycle manufacturers reported strong performance in the first seven months of the year, with combined profit and revenue registering double-digit growth, official data showed.

Bike manufacturers with annual operating revenue of over 20 million yuan (about $3.1 million) raked in 5.82 billion yuan in profits in the January-July period, up 51.2% year on year, according to the Ministry of Industry and Information Technology, according to The Xinhua News Agency reports.

Their combined operating revenue rose 36.8% from a year earlier to 124.52 billion yuan.

In the first seven months of the year, China's output of non-electric bikes increased 13.3% year on year to nearly 29.79 million units, while electric bike production rose 26% year on year to about 20.16 million units, the data showed.

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