Ionix Technology, Inc. Reports Earnings Results for the First Quarter Ended September 30, 2020
November 16, 2020 at 04:37 pm EST
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Ionix Technology, Inc. announced earnings results for the first quarter ended September 30, 2020. For the first quarter, the company announced sales was USD 2.958 million compared to USD 7.500 million a year ago. Operating loss was USD 177,612 compared to operating Income of USD 822,975 a year ago. Net loss was USD 532,306 compared to net income of USD 711,276 a year ago. Basic eps - continuing operations was USD 0 compared to USD 0.01 a year ago.
Ionix Technology, Inc., formerly Cambridge Projects Inc., through its subsidiaries Well Best International Investment Limited (Well Best), Xinyu Ionix Technology Company Limited (Xinyu Ionix) and Taizhou Ionix Technology Company Limited (Taizhou Ionix), is engaged in developing, designing, manufacturing and selling lithium batteries for electric vehicles in China. The Company's products include 18650-2000 milli-ampere-hour (mAh) lithium ion batteries (LIB) for use in lithium cell electronic bicycles, balance cars, scooters, electric vehicles, special vehicles at low speed, energy storage, and other products. Its LIB is a rechargeable electric device within which lithium moves from a negative electrode to a positive electrode during the discharge and back charging. The four main materials used in its LIBs are cathode materials, anode materials, operators and electrolytic solution. Its LIBs are used as the power supply for devices, such as mobile phones, digital cameras and power tools.
IONIX TECHNOLOGY, INC. 
