8.25Sinotruk H1 net profit fall by 40 pct

Sinotruk H1 net profit fall by 40 pct 

 

http://autonews.gasgoo.com/auto-news/1011898/Sinotruk-H1-net-profit-fall-by-
40-pct.html

 

Shanghai, August 25 (Gasgoo.com) Sinotruk (Hong Kong) Ltd said on Monday its
profit attributable to shareholders dropped 39.8 percent year-on-year to 462
million yuan ($67.63 million) in the first six months ended June 30, 2009. 

 

Total turnover in the first six months fell 16 percent to 14.2 billion yuan;
and heavy duty truck sales volume fell 21.4 percent to 53,195 units as
exports of finished trucks were hit by the global financial crisis. 

 

Sinotruk, China's largest heavy-truck manufacturer by sales volume, agreed
in July to sell just over a 25% stake in itself to German truck maker MAN SE
for US$796 million. 

 

Under their joint agreement, MAN will license engine, chassis and axle
technology to Sinotruk, which will use the know-how to develop a new line of
trucks to be made in China, with an annual sales target of 50,000 units by
2015. The companies will also jointly develop a new brand of premium trucks
for China and other emerging markets.

 

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