Dongfeng’s net surges
DONGFENG Automobile Co Ltd said on Saturday that its net profit surged nearly 145 percent in 2015 to 344 million yuan (US$53 million).
The company sold about 189,000 vehicles in 2015, down 20.9 percent, as the economic slowdown hit demand, according to financial results filed to the Shanghai Stock Exchange.
The sluggish sales sent its operating revenue down 3.41 percent to about 16.9 billion yuan last year.
But cost cuts, improved sales structure and enhanced efficiency helped the company become more profitable despite the revenue drop, Dongfeng said.
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