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Qingling Motors net down 59%
Last Updated(Beijing Time):2005-08-26 09:42

China's Qingling Motors Co., which is 20 percent-owned by Japan's Isuzu Motors Ltd., reported Wednesday a 59 percent fall in first-half net profit from a year earlier.

The company didn't give reasons behind its performance, but analysts attributed the decline to fierce competition in the domestic truck market and high costs of raw materials. Qingling's net profit for the six months ended June 30 was 26.6 million yuan (US$3.28 million), down from 65.3 million yuan in the same period last year.

 

Source:Shenzhen Daily 
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