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Shanghai Putailai New Energy Technology's Q1 Profit Jumps 44%, Revenue Climbs 35%; Shares Down 5%

-- Shanghai Putailai New Energy Technology's (SHA:603659) net profit attributable to shareholders in the first quarter jumped 44% to 704 million yuan from 487.7 million yuan, according to a Shanghai bourse filing on Thursday.

Earnings per share rose 43% year on year to 0.33 yuan from 0.23 yuan.

Operating revenue climbed 35% to 4.35 billion yuan from 3.22 billion yuan in the prior year.

The Chinese lithium-ion battery materials manufacturer's shares dropped less than 5% during the afternoon trade.

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