Business briefs from the Chinese media for Friday August 12, 2022

Huge increase of electric car battery production: According to a domestic automotive battery industry alliance, China’s outputs of automotive batteries in July amounted to 47.2 Gigawatt hours (GWh), a year-on-year increase of 172.2%. From January to July, the cumulative domestic output of automotive batteries reached 253.7 GWh, a year-on-year increase of 175.6%.

Double the number of companies in a decade: According to a new report, the total number of registered market entities in China increased from nearly 55 million in 2012 to 160 million in June 2022, an increase of 1.9 times in 10 years. Since 2013, China has added more than 10 million new market entities on average every year.

Huawei first half performance less than ideal: Earlier today, Huawei 华为 announced its performance for the first half of the year, reporting total revenue of 301.6 billion yuan ($447.37 billion), a decrease of nearly 20% year-on-year, while the company’s net profit margin decreased from 9.8% a year ago to 5%. 

Almost ten billion express deliveries in six months: According to the State Post Bureau, the volume of express delivery in the first half of the year was 9.65 billion, an increase of 8% year-on-year, and total revenue of the postal industry amounted to 767.73 billion yuan ($113.88 billion), a year-on-year increase of 7.4%.