Changan Auto H1 net profit up 3.68 pct
Chongqing Changan Automobile Co Ltd said its first half net profit rose 3.68 pct year-on-year to 450.19 mln yuan under Chinese accounting standards, mainly due to higher sales at Changan Ford Mazda Automobile Co Ltd, its 50-50 joint venture with Ford Motor Co.
The company said it produced 455,688 vehicles in the first six months, up 19.37 pct from a year earlier, and sold 438,259, up 10.83 pct, including 386,815 cars and 51,444 commercial vehicles.
The sales figures include vehicles manufactured by its joint ventures with Ford and Suzuki Motor Corp.
Chongqing Changan Automobile said its share of first-half earnings of Changan Ford Mazda and the venture's engine unit grew by 48.88 mln yuan and 74.87 bln yuan, respectively. It did not provide the total earnings figures.
Total operating revenue in the first half rose 9.21 pct to 7.88 bln yuan. Earnings per share were 0.19 yuan, against 0.22 yuan a year earlier.
Under international accounting standards, net profit for the first half was 455.31 mln yuan. It gave no comparative figure.
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