China's SAIC H1 net up 5 pct on solid sales at JVs

Newswire

Aug 29 (Reuters) - China's largest automaker SAIC Motor Corp posted a 5 percent rise in first-half net profit, helped by solid sales at its two joint ventures. During the January-June period, the company made a profit of 10.78 billion yuan ($1.70 billion) versus 10.26 billion in the same period a year earlier. SAIC operates car manufacturing ventures with General Motors Co and Volkswagen AG.

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