China: Auto parts makers H1 net profit margin higher than automakers
- Source: Gasgoo.com
- [16:05 October 22 2010]
- Comments
More than 60 Shanghai-, Shenzhen- and Hong Kong-listed auto parts companies in China announced Thursday their half-year financial results which showed that the average net profit margin of all the listed Chinese auto parts makers increased to about 7% in the first six months of this year, the Beijing Times reported Friday.
According to statistics from Gasgoo.com, 23 major auto-making companies in China reported average net profit margin of 5.46% in the first half, losing to the domestic auto parts companies.
An industry analyst said due to vehicles in short supply in the first half, China's auto parts suppliers speeded up the pace that in the meanwhile led prices to rise on auto parts.
