Battery Leaders Suffer Losses as Battery Prices Tumbles 4-9%

BEIJING (SMM): Tianneng Group – a leading lead-acid battery producer in China reported a loss of 305 million yuan (49.7 million) in 2014, as battery prices fell sharply.

SMM understands that the intensifying price war and weak consumption in 2014 has caused profits of battery producers to fall in the past few years.

Tianneng Group reported lower margins back in 2013 and went into red last year.

According to Tianneng’s annual report, prices of lead-acid battery have fallen by 4-9% last year.

Courtesy: www.metal.com