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SAIC Motor predicts slowdown in earnings

Chinese automaker SAIC Motor Corporation Ltd said on Wednesday that it expects milder profit growth in 2018 amid a slowdown in the country's car market. Net profits attributable to shareholders reached 36 billion yuan ($5.4 billion) last year, up 4.6 percent from 2017, according to estimates in the company's statement to the Shanghai Stock Exchange. That growth was slower than the 7.5-percent profit increase for 2017. With non-recurring gains and losses deducted, net profits came in at 32.4 billion yuan, down 1.5 percent year-on-year, the statement said.

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