Jianghuai Auto suffers 30.9% drop in H1 net profit

Shanghai, August 5 (Gasgoo.com) Anhui Jianghuai Automobile Co., Ltd. said in a brief statement on July 30 that its net profit in the first half of 2009 dropped 30.9% from a year earlier to 116 million yuan ($17 million).

Sales revenue in the first six months of this year rose 1.9% year on year to 9.3 billion yuan, which was mostly contributed by its hot selling products like Refine MPV and light trucks.

The Jianghuai Refine MPV, ranking first in the MPV sector, has controlled a market share of 21.66%, and made up of roughly 35% of Jianghuai's complete vehicle sales revenue.

In the first half of 2009 Jianghuai produced 146,027 vehicles and chassis and sold 145,665 units, up 14.82% and 13.92% respectively from a year earlier.