Dongfeng Yuedakia lost over RMB 75 mln last year

Shanghai, April 7 (Gasgoo.com) The annual report issued last week by Yueda Investment disclosed that Dongfeng Yuedakia lost RMB 75.28 million ($10.74 million) in 2007. In the annual report Yueda Investment said that the loss of Dongfeng Yuedakia last year has also led to its earnings losing by RMB18.821 million.

Yueda Investment, the second shareholder of Dongfeng Yuedakia, holds 25% shares of the company's stock.  On December 8, the first phase of the Dongfeng Yuedakia No.2 Plant project was completed and put into operation. Now the company can produce 290,000 vehicles annually. Last year, Dongfeng Yuedakia produced 105,919 vehicles, and sold 101,436 units the whole year. But in 2006, Dongfeng Yuedakia had sold 115,000 units.

Last year, the profits of main domestic automakers increased by more than 60%, with few companies losing money, excluding some joint ventures like Changhe Suzuki, former Nanjing Fiat and so on till now.