Ionix Technology, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended March 31, 2022
May 23, 2022 at 02:07 pm EDT
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Ionix Technology, Inc. reported earnings results for the third quarter and nine months ended March 31, 2022. For the third quarter, the company reported sales was USD 2.06 million compared to USD 3.16 million a year ago. Net loss was USD 0.437797 million compared to USD 0.115594 million a year ago.
For the nine months, sales was USD 10.55 million compared to USD 9.1 million a year ago. Net loss was USD 1.08 million compared to USD 1 million a year ago. Basic loss per share from continuing operations was USD 0.01 compared to USD 0.01 a year ago. Diluted loss per share from continuing operations was USD 0.01 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. 
