Jiangling Motors Company (JMC) announces to achieve a net profit of 938 million yuan in the first half of 2013, up by 11.43% over the same period of last year with 1.09 yuan earnings per share.
According to the announcement, the sales revenue in the first half year is 9.761 billion yuan, up by 10.88% year on year. 110,200 vehicles are sold, increasing by 7% year on year.
JMC says to have a 1.6%-26% increase on gross profit over the same period of last year thanks to cost control and improvement of sales combination. Due to increase on R&D expenses, the management fee rises by 301 million, up by 81% year on year. Moreover, the company’s tax rate is changed to the favorable income rate for high-tech enterprises reaching 15%, so the tax fee decreases 76 million yuan.
