Total profits of China's bicycle industry up 32 pct in 2019

BEIJING — China's bicycle manufacturers above designated size saw their profit at 1.66 billion yuan (about $234.29 million) in 2019, said the Ministry of Industry and Information Technology (MIIT).

The reading was up 32 percent year on year, while their total revenue edged down 0.7 percent from a year ago to 48.84 billion yuan, the MIIT data showed.

During the same period, electric bike makers reported a total revenue of 74.99 billion yuan, down 8.4 percent year on year, with their profits rising 4.6 percent to 3.63 billion yuan, said the MIIT.

Throughout the year, pedal bicycle output dropped 8.5 percent year on year to 39.62 million, while the output of electric bikes rose 6.1 percent year on year to 27.08 million.