China's electronic information manufacturing registers revenue, profit growth in H1

China's electronic information manufacturing sector logged revenue and profit growth in the first half of the year (H1), despite the impact of the COVID-19 epidemic, data from the Ministry of Industry and Information Technology (MIIT) showed.

Total profits of firms with annual revenue of more than 20 million yuan ($2.86 million) surged 27.1 percent year-on-year, while the operating revenue of these firms rose 4.6 percent, expanding from the 1.3-percent rise in the first five months, according to the MIIT.

Value-added output of major electronic information manufacturers rose 5.7 percent year-on-year in H1, while fixed-asset investment in the industry registered a 9.4-percent yearly growth, 0.9 percentage points higher than the same period of last year.

Export delivery of major firms in the sector rose 17.5 percent year-on-year in June, accelerating the pace of growth by 16.3 percentage points from one year ago.

In breakdown, the communications equipment manufacturing sub-sector saw its profits soar 41.3 percent year on year in H1, leading among major sub-sectors of the industry, said the MIIT.

In June alone, the output of smartphones hiked 26.1 percent year-on-year, while that of laptops and tablets rose 5.6 percent and 4.7 percent, respectively.