BUSINESS Chinese automaker JAC loses 146m yuan amid COVID-19

BUSINESS

Chinese automaker JAC loses 146m yuan amid COVID-19

Xinhua

21:20, August 02, 2020

An employee works on an ambulance at a workshop of a MPV production branch of Jianghuai Automobile Group Corp Ltd (JAC) in Hefei, capital of East China's Anhui province, on Feb 25, 2020. (Photo: Xinhua)

BEIJING - Chinese automaker Anhui Jianghuai Automobile Group Corp Ltd (JAC) reported a net loss in the first half of the year (H1) as the COVID-19 epidemic dented sales.

JAC suffered a net loss of 146 million yuan ($20.9 million) in H1, compared with a profit of 125 million yuan in the same period last year, the company announced in its preliminary earnings estimate, filed with the Shanghai Stock Exchange.

Due to the COVID-19, JAC's sales of cars and chassis in the January-June period fell 10.97 percent year-on-year to 209,400 units, the Hefei-headquartered company said.

Shares of the Shanghai-listed automaker shed 1.28 percent to close at 9.29 yuan apiece Friday.

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