China Dongfeng Auto profit up 79% in 2010
Published on March 29, 2011 by Tycho de Feijter
China’s Dongfeng Automobile, the listed arm of Dongfeng Motor Company, said Saturday its net profit in 2010 surged 79.54 percent year on year on robust auto sales.
The Shanghai-listed company, based in Wuhan city in central China’s Hubei province, saw net profit reach 570.82 million yuan last year, compared to 317.94 million yuan in 2009, according to the company’s annual business report filed with the Shanghai Stock Exchange.
Business revenues hit 19.8 billion yuan, a rise of 38.35 percent year on year.
Earnings per share stood at 0.2854 yuan, up 79.54 percent.
Vehicle sales of the company topped 300,000 units in 2010, up 44.8 percent, along with the fast auto sales growth in China, the world’s largest car market with vehicle sales up more than 32 percent to top 18 million units last year.
Dongfeng Motor Corp, one of Dongfeng Automobile’s major controlling shareholders, sold 2.7248 million vehicles in 2010, ranking second in sales volume in the Chinese auto market.