China Changan Auto Q1 net surges more than fourfold

Newswire

SHANGHAI, April 23 (Reuters) - China's top minivan-maker, Chongqing Changan Automobile Co Ltd , said on Wednesday its next profit rocketed more than four-fold year-on-year in the first quarter of 2003 due to a sharp rise in sales. Unaudited net earnings rose to 326.53 million yuan ($39.4 million) under domestic accounting standards, while turnover more than doubled to 3.9 billion yuan, it said in a statement published on the Shenzhen Stock Exchange's Web site www.cninfo.com.cn. (US$1 = ...

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