HONG KONG, Aug 25 (Reuters) - Truck maker Qingling Motors Co Ltd , the Chinese joint venture partner of Japan's Isuzu Motors , said on Monday that first-half sales rose six percent year-on-year to 16,359 vehicles, lagging broader growth in the mainland automotive market.
The company on Friday reported a 15 percent rise in first half profit to 68.3 million yuan (US$8.25 million) as turnover rose 16.4 percent to 1.71 billion yuan.
Qingling said in a statement that it faced more intense competition than ever in the first half, including what it termed "imitation" products from "unregulated" rivals at the mid- and low-ends, but it said it was confident of growing market share going forward.
Shares in Qingling fell 1.54 percent on Monday morning to HK$1.28.
While the stock rose 16 percent in the 52 weeks through Friday, it has underperformed Hong Kong-listed rivals Denway Motors and Brilliance China Automotive , which rose 77 percent and 102 percent, respectively, in the same period.
(US$=8.28 yuan)