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Chinese car manufacturer Geely Automobile Holdings at the end of 2018, reported net profit growth to a record level of 12 billion 550 million yuan. A year earlier, the profit was 10 billion 630 million yuan. According to experts, the profit in 2018 was expected to be 12 billion 800 million yuan. The annual revenue figure of 106 billion 600 million yuan was also a record. However, it turned out to be lower than economists' forecast of 108 billion 590 million yuan. Car sales grew over the year by 20%, reaching 1.5 million vehicles. The annual rate, however, was 5% lower than the company's target for sales, which was due to a slowdown in sales in the fourth quarter. And in December, the figure fell by 44%. The company expects zero sales growth in 2019 due to lower domestic demand amid the slowdown in Chinese economy.
On Friday, the Chinese technology company ByteDance said that it would consider listing its domestic businesses in Hong Kong or Shanghai due to rising Sino-U.S. tensions. The company's standalone listing in Hong Kong or Shanghai might value ...
On Friday, Caterpillar Inc (CAT.N) announced a lower second-quarter profit because of the recession caused by the coronavirus outbreak. The decline was due to lower sales volume and changes in dealer inventories. During the second quarter ...
Samsung Electronics Co Ltd looks forward to the second half of the year as it expects a larger increase in chip demand brought by new smartphone launches. However, the company warned that the coronavirus crisis and trade disputes carry risks. Samsung, ...
China’s industrial firms had seen an increase in profits for two consecutive months. This came as the most rapid pace ever recorded in over a year, suggesting that the country’s recuperation from the novel coronavirus pandemic ...
China's diesel exports for June fell by 50% year-on-year, a record low since September 2018 as lockdown measures around the world continued to curb fuel demand. China exported has 1.04 million tons of diesel, compared to the 1.45 million and ...
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