Narada Power Lithium-ion Battery Business Revenues Rise Sharply in H1

SHANGHAI, Aug. 15 (SMM) – Narada Power reported rapid growth in its revenues from motive lithium-ion business in the first half of the year, based on finance.qq.com.

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The company achieved 142 million yuan ($ 21.37 million) in motive lithium-ion business revenues in H1, a year-on-year rise of 323.27%. In the same period, total business revenues of the company were 2.95 billion yuan, up 43.95% YoY, and net profits of shareholders totaled 154 million yuan, up 91.52% YoY.

The company got 1.21 billion yuan of revenue from backup battery business in the same period, rising 2.46% YoY, with sales to domestic market contributing 890 million yuan. China Tower became the company’s largest customer, who contributed 751 million yuan in Narada Power’s  sales revenues in H1, up 456.30% YoY.

Narada Power’s subsidiary Anhui Huabo reported 1.09 billion yuan business revenues in H1 and saw net profits of shareholders at 48.68 million yuan. 

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