Mudan Auto sees loss in Q1 amid lower sales, higher costs

Newswire

HONG KONG, April 25 (Reuters) - Chinese bus maker Mudan Automobile Shares Co. Ltd. said on Monday it expected to see a substantial loss in the first quarter of 2005 amid lower sales and higher production costs. Mudan said it would record a substantial loss for the three-month period because of intense competition and rising costs of production, led by increases in prices of steel and chemical materials. The Jiangsu-based company posted a net loss of 2.08 million yuan (US$251,126) for the ...

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