Haima Auto expects sharp rise in Q1-Q3 net profits
Chinese homegrown automaker Haima Automobile Group said late Monday the company expected its net profits for the first three quarters to rise 200 to 250 percent from the same period last year.
The automaker said preliminary financial data showed its Q1-Q3 net profits would stay in a range of 185 million to 215 million yuan, according to the company's filing to the Shanghai Stock Exchange.
Haima said the improving profitability was attributable to the launch of several new models which had been warmly received by the market.
Headquartered in China's southernmost Hainan province, Haima has sold its products to 15 foreign countries to date, including Russia, Brazil, Venezuela, Egypt, Vietnam, and the Philippines.
(Edited by Olivia, Olivia@tireworld.com.cn)
Related Article
- Dongfeng Auto Q1-Q3 sales volume down 1.79% y-o-y
- Shanghai Free Trade Area Encourages Auto Finance leases Development
- Chinese Auto Export Drops 10%, Commercial Ministry Publishes Warning Order
- China auto exports down 5.5pct on year in Jan-Aug
- China auto output, sales retain double-digit growth in Jan-Aug
- Tireworld Insight: Domestic tire makers eye overseas expansion
- Tireworld Insight: Price disparity severe between China's rubber exports and imports
- Tireworld Insight: China tire exports dependent on US market performance
- Tireworld Insight: SHFE rubber expected to move in tight range in short-term
- Tireworld Insight: Rubber futures to test near-term resistance at 15,000 yuan/tonne
- Tireworld Insight: China’s tire industry on track of rapid growth
