Ionix Technology, Inc. Reports Earnings Results for the Second Quarter Ended December 31, 2020
February 16, 2021 at 01:16 pm EST
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Ionix Technology, Inc. announced earnings results for the second quarter ended December 31, 2020. For the second quarter, the company announced sales was USD 2.982 million compared to USD 7.332 million a year ago. Operating loss was USD 85,625 compared to operating Income of USD 281,171 a year ago. Net loss was USD 356,118 compared to net income of USD 135,658 a year ago. For the half year, sales was USD 5.941 million compared to USD 14.833 million a year ago. Operating loss was USD 263,237 compared to operating Income of USD 1.104 million a year ago. Net loss was USD 888,424 compared to net income of USD 846,934 a year ago. Basic loss per share from continuing operations was USD 0.01 compared to basic earnings per share from continuing operations of 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. 
