Leading Battery Producer Sacred Sun Registers 14.81 Mln Yuan in H1 Net Profit

SHANGHAI, Aug. 15 (SMM) – China’s leading battery producer Shandong Sacred Sun Power Sources Co. registered a net profit of 14.81 million yuan ($2.41 million) in the first six months, with its back-up battery sales up sharply, the company said in its interim report.

Sacred Sun realized 210 million yuan in operating revenue from back-up battery business, up 86.46% year-on-year, thanks to smooth progress on construction of 4G network base station.

In addition, the company recorded continued increase in its alternative energy battery and motive battery sales.

Sacred Sun plans to build electric vehicle battery and long-life storage battery capacity to optimize its product mix and take larger share in battery market.

The company expects to create 24.85 million in net profit during the first three quarters considering increasing capacity, steady income growth, rising costs and heightened competition.