UPDATE 1-Shanghai Auto Q2 net profit more than doubles

Newswire

(Adds details, quotes, analyst comments) By Ben Blanchard SHANGHAI, July 31 (Reuters) - Shanghai Automotive Co Ltd , owner of one-fifth of General Motors Corp's Shanghai car plant, said on Thursday its quarterly net profit soared 115 percent as China's demand for cars continued to boom. Severe competition in the industry, however, meant it would have to improve management practices and keep an eye on costs, the company said. China is increasingly a focus for global auto makers ...

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