South Korean media say the revenue of Ningde era in the first half of the year is almost equal to that of the entire South Korean battery industry.

CTOnews.com, July 31 (Xinhua)-- Ningde Times, China's largest battery maker, is experiencing explosive growth, with revenue close to the entire South Korean battery industry in the first half of the year, according to BusinessKorea.

▲ Touyuan Ningde Times official website CTOnews.com previously reported that Ningde era's operating income in the first half of the year was 189.25 billion yuan, an increase of 67.52 percent over the same period last year. The net profit belonging to shareholders of listed companies was 20.717 billion yuan, an increase of 153.64 percent over the same period last year, and basic earnings per share was 4.7201 yuan per share.

In terms of sales in the first half of this year, Ningde Times is almost equal to the combined revenue of South Korea's three leading battery companies, LG Energy Solution, Samsung SDI and SK Innovation, which is 35.7174 trillion won (CTOnews.com Note: currently about 200.017 billion yuan). It is worth noting that the operating profit of the Ningde era is three times that of South Korean enterprises combined, which shows that the Ningde era has an advantage not only in scale but also in profitability.

In the first half of the year, sales of electric vehicle battery business in Ningde era increased by 76.2% year-on-year to 139.442 billion yuan. Sales in the field of energy storage devices (ESS) also doubled from the same period last year to 27.985 billion yuan.

Ningde Times had a 36.3% share of the global electric vehicle battery market at the end of May, leading BYD (16.1%) and LG Energy Solution (13.9%), according to market research firm SNE Research. In addition, overseas sales of Ningde era reached 67.169 billion yuan in the first half of the year, accounting for 35.5% of the total sales, indicating that the company not only leads the domestic market, but also has a strong performance worldwide.

Industry insiders said: "with the intensification of competition in the domestic market, the Ningde era is paying more and more attention to the global market. The company's goal is to become the Apple of the battery industry, beyond the simple battery manufacturer, to lead the development direction of the battery industry, as evidenced by the establishment of its electric shipping subsidiary."