SHANGHAI — Despite efforts to realign its product structure and cut production costs, Shanghai Huizhong Automotive Mfg. Co. Ltd. reportedly sees 1998 earnings fall to US$19.5 million, representing a 13.1% decline. The slide is due to China's economic downturn and increased competition, a company statement says. The company has about US$504 million cash on hand and a net cash position of more than US$129 million after taking total debt of US$370 million into consideration. Company ...
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