AviChina says auto unit may post up to 50 mln yuan loss in 2004


HONG KONG, March 18 (Reuters) - AviChina Industry & Technology Co. Ltd. said on Friday its Shanghai-listed unit Jiangxi Changhe Automobile Co. Ltd. expects to see a loss of between 40 million yuan (US$4.8 million) and 50 million yuan 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 in 2003, based on the Chinese accounting standards, AviChina said in a statement. It gave no further details. The ...

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