AviChina auto unit may post over 50 pct fall in 2004 net

Newswire

HONG KONG, Jan 31 (Reuters) - AviChina Industry & Technology Co. Ltd. said on Monday that its Shanghai-listed subsidiary Jiangxi Changhe Automobile Co. Ltd. may report that net profit fell by more than a 50 percent in 2004. Jiangxi Changhe, which is 63.88 percent owned by the Hong Kong-listed AviChina, reported audited net profit of 50.72 million yuan (US$6.1 million) in 2003, based on the Chinese accounting standards. It gave no further details. Jiangxi Changhe designs and sells ...

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