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FAW Car 2009 net profit up 49.8%
(Xinhua)
Updated: 2010-03-05 10:19
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FAW Car Co, a unit of one of China's three largest auto makers, First Automotive Works, said Thursday its net profit rose 49.8 percent to 1.6 billion yuan ($234 million) in 2009 from a year earlier, fueled by strong sales.
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The company attributed the growth to robust sales and output and a booming market, but it did not give specific figures in the report.
The share price of the company lost 4.58 percent to end at 22.07 yuan in Shenzhen Thursday.
China overtook the United States to become the world's top auto maker and market in 2009, with annual output reaching 13.79 million units and sales hitting 13.64 million units last year, according to figures from the China Association of Automobile Manufacturers (CAAM) in January.
