The recent quarantine at home has boosted the growth of China’s food delivery and express delivery industries in the first quarter. As two main consumers of the electric bicycle industry, their progress also drove the sales of electric bicycles and related batteries in Q1, 2020.
Recently, Chilwee Power, a battery giants in the field of light electric vehicle, announced that in Q1, Chilwee Power Supply, its subsidiary, achieved revenue of 4.09 billion yuan; net profit attributable to shareholders was 154 million yuan, up 9.06% year-on-year.
According to its 2019 annual report released in March, Chilwee Power achieved revenue of 27.18 billion yuan in 2019, with a net profit attributable to shareholders of 561 million yuan, increased 36% over 2018.
Adding it all up, not only did Chilwee Power achieved a significant increase in 2019, but in Q1, when many companies suffered losses, it also maintained rapid growth.
As one of China’s top battery manufacturers, Chilwee will never stop its step to search for more progress and cooperation. This August, Chilwee Power Supply will debut in 2020 World Battery Industry Expo (WBE), along with many other brand enterprises, such as BAK, BYD, Highstar, Great Power, Lishen, Chinese Academy of Sciences, Sunwoda, Sinowatt, Cham Battery, Tianneng, Tinci, Zhongtian Hongli, XCJ, Zhengye, SVOLT, Superior Graphite, Hesse Asia Ltd, etc.