BEIJING, Aug. 2 (Xinhua) -- China's major bicycle manufacturers saw their profits surge 24.8 percent year on year in the first half of 2020, according to the Ministry of Industry and Information Technology (MIIT).
Bike makers with annual main-business revenue of more than 20 million yuan (about 2.87 million U.S. dollars) raked in 2.87 billion yuan in total profits from January to June.
Meanwhile, their total revenue rose 4.1 percent from a year ago to 69.28 billion yuan, the MIIT data showed.
During the same period, makers of electric bikes reported total revenue of 37.74 billion yuan, up 13.4 percent year on year, with their profits surging 31.6 percent to 1.67 billion yuan, said the ministry. Enditem
A single purchase
