UPDATE 3-China's Qingling Motors H1 dives on price cuts

Newswire

(Updates with company executive comment, closing price) By Charlie Zhu HONG KONG, Aug 28 (Reuters) - Chinese truck maker Qingling Motors posted a 65 percent fall in first-half net profit on Wednesday as fierce competition took its toll. The company's stock plunged more than 18 percent to close at HK$0.91 on Wednesday, wiping out gains accumulated in the past two weeks. Qingling said net profit dropped to 59.42 million yuan (US$7.2 million) from 172 million yuan in the year-ago ...

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