Sedan mix slows FAW H1 profit

FAW Car Co reported a slower-than-industry-average profit and sales growth in the first half of this year, as it failed to benefit from the government incentives for small cars due to its line up of medium-to-high-end models.

In a statement to the Shenzhen Stock Exchange, the automaker said its net profit in the first half of the year rose 5.83 percent to 535.28 million yuan, up from 505.77 million yuan a year earlier.

Revenue rose 11.51 percent year-on-year to 11.63 billion yuan, from 10.43 billion yuan, while operating profit and total profit fell 10.79 and 10.93 percent.