Ionix Technology, Inc. Reports Earnings Results for the Second Quarter Ended December 31, 2019
February 14, 2020 at 06:15 am EST
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Ionix Technology, Inc. announced earnings results for the second quarter ended December 31, 2019. For the second quarter, the company announced sales was USD 7.332 million compared to USD 2.377 million a year ago. Operating income was USD 281,171 compared to USD 78,656 a year ago. Net income was USD 135,658 compared to USD 6,854 a year ago. For the half year, sales was USD 14.833 million compared to USD 4.946 million a year ago. Operating income was USD 1.104 million compared to USD 306,235 a year ago. Net income was USD 846,934 compared to USD 184,007 a year ago. Basic earnings per share from continuing operations was USD 0.01 compared to USD 0 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. 
