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.
Who we are: About us, Contacts. How we write news and our principles: Editorial code. We did our best. If you found this valuable – please support us.
To request a correction, please send an email.