Ionix Technology, Inc. Reports Earnings Results for the Full Year Ended June 30, 2020
September 28, 2020 at 04:18 pm EDT
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Ionix Technology, Inc. announced earnings results for the full year ended June 30, 2020. For the full year, the company announced sales was USD 20.599 million compared to USD 12.348 million a year ago. Operating income was USD 350,171 compared to USD 616,443 a year ago. Net loss was USD 277,668 compared to net income of USD 397,047 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. 
