Motor Enterprises benefit from new energy market
Recently, some electric machinery enterprises half-year report and performance forecast show good grades. In the first half of 2018, China Electric Machinery Co. realized revenue of 20.4216 million yuan, with an increase of 48.06%. The net profit were 26.4757 million yuan, with an increase of 49.01% over the same period of last year, which achieved 63.02% of the annual planning target. Oceanic motor disclosed three quarter earnings forecast showed net profit for the first three quarters was $13.8552 million to $24.513.61 million, up from - 35% to 15% in the same period last year. The company's announcement showed that since 2018, the new energy automotive industry has enjoyed a good development momentum. Oceania will further expand the production and marketing scale of the new energy vehicle powertrain system and strive to boost revenue and profits by a large margin.
In addition, the industry's leading enterprise Jiangte Motor from the raw materials to the new energy industry has a comprehensive part. In Yichun, Jiangxi province, the company built a production line of 15000 tons of spodumene to extract lithium carbonate per year, with a trial production scheduled for August.