Companies

Jiangling Motors net profits more than triple in H1

Xinhua News,BEIJING
2020-07-07 09:59

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BEIJING, July 7 (Xinhua) -- Jiangling Motors Co. Ltd., a light-duty truck manufacturer, more than tripled its net profit in the first half of this year (H1).

The company's net profits attributable to shareholders rose 252.54 percent year on year to 208 million yuan (about 29.4 million U.S. dollars) in the period, according to its H1 performance forecast filed with the Shenzhen Stock Exchange.

Its stellar performance in H1 came amid a recovery in the broader sector in May with the output and sales of commercial vehicles surging 47.7 percent and 48 percent year on year to 527,000 and 520,000 units, respectively.

In particular, truck output grew 53.2 percent from a year ago to 490,000 units in May, while sales rose 52.5 percent to 482,000 units, data showed.

By Monday's market close, the share price of the Shenzhen-listed automaker rose 8.11 percent to close at 15.19 yuan.
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