Shanghai November 29 (Gasgoo.com) Twenty-one listed auto-making companies in China reported revenue of 149.23 billion ($22.39 billion) for the third quarter of 2010, up 55.10% from the same period last year, according to the companies' financial results.
Net profit in Q3 came to 64.66 billion yuan, a year-on-year increase of 44.88%, while the average profit margin slipped to 4.33% from 4.64% a year ago.
Anhui Xingma Auto and Jianghuai Auto posted the strongest net profit growth of 321.9% and 148.5%, respectively, in the third quarter, when compared with the same period last year.
But not all the listed Chinese companies performed well last quarter, FAW Car, FAW Xiali and GAC Changfeng saw their net profits fall 16.1%, 97.4% and 24.5% respectively in terms of the passenger vehicle business.
Ankai Bus and Zhongtong Bus had a decline of 26.8% and 50.7% in net profit for the third quarter respectively. In the meanwhile, light-duty vehicle makers, ST Jinbei and Dongan Heibao Co saw their net profits decrease 89.5% and 108.3% respectively from the year-earlier third quarter.
