Business briefs from the Chinese media — Monday August 29
Business briefs from the Chinese media — Monday August 29
Geely to sell first car with new CATL battery: On the first day of the World New Energy Vehicles Congress in Beijing on Friday last week, Contemporary Amperex Technology Limited (CATL) 宁德时代 announced that the Zeekr 001, a Geely brand, will be the first electric vehicle to be mass-produced with CATL’s new Qilin battery.
Industrial profits down: According to data released by the National Bureau of Statistics, revenue of industrial enterprises increased by 8.8% year-on-year in the first seven months of the year, but profits amounted to 4.89 trillion yuan ($711.49 billion), a year-on-year decrease of 1.1%.
Oil profits way up: Following last week’s announcement of PetroChina’s big revenue and profit gains, yesterday, Sinopec 中国石化 reported revenue for the first half of the year of 1.6 trillion yuan ($232.65 billion), a year-on-year increase of 27.9%, and net profit of 43.53 billion yuan ($6.32 billion), a year-on-year increase of 10.4%.
