Ionix Technology, Inc. Reports Earnings Results for the Third Quarter Ended March 31, 2021
May 17, 2021 at 02:51 pm EDT
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Ionix Technology, Inc. announced earnings results for the third quarter ended March 31, 2021. For the third quarter, the company announced sales was USD 3.160 million compared to USD 2.752 million a year ago. Operating loss was USD 116,994 compared to USD 392,993 a year ago. Net loss was USD 115,594 compared to USD 636,222 a year ago. For the nine months, sales was USD 9.102 million compared to USD 17.585 million a year ago. Operating loss was USD 380,231 compared to operating Income of USD 711,153 a year ago. Net loss was USD 1.004 million compared to net income of USD 210,712 a year ago. Basic loss per share from continuing operations was USD 0.01.
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. 
