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By Bingyan Wang
CIMC Vehicles Group said its first-half net profit more than quadrupled thanks to China’s reopening and sales growth in its overseas markets.
The Chinese semitrailers and specialty vehicles maker’s net profit rose to CNY1.90 billion ($261 million) from CNY365.76 million in the same period a year earlier, it said late Wednesday.
Revenue in the first six months of the year touched CNY13.47 billion from CNY11.20 billion a year earlier.
Investment income rose to CNY1.11 billion reversing from the CNY2.07 billion losses in the same period last year.
“The commercial vehicle industry of China has rebounded, China’s heavy truck industry shows the trend of recovery,” it said.
The company said its North American business also maintained a growth trend.
Write to Bingyan Wang at [email protected]
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