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FINWIRES

Ronbay New Energy Returns to Profit in H1

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Ningbo Ronbay New Energy Technology (SHA:688005) returned to profitability in the first half, swinging to a net profit attributable to shareholders of 109.4 million yuan from the year-ago attributable loss of 68.4 million yuan, according to a Shanghai bourse filing on Thursday.

The Chinese lithium battery electrode materials manufacturer's earnings per share was 0.16 yuan against the loss per share of 0.10 yuan in the previous year.

Operating revenue jumped 40% year on year to 8.72 billion yuan from 6.25 billion yuan.

The company's shares rose 3% at the close.

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