March 19, 2020: Chinese carmaker Jianghuai Automobile Group Corp. swung back to profit last year, according to the annual report of the company.
Data showed that its net profits attributable to shareholders totaled 106 million yuan (about 15 million U.S. dollars) last year, compared to losses of 786 million yuan a year earlier.
Revenue saw a year-on-year decline of 5.6 percent to stand at 47.3 billion yuan.
A total of 421,200 vehicles were sold last year. The most two popular models were light trucks and SUVs, which reported sales of 192,800 units and 86,800 units, respectively.
The automaker expects its sales to reach 450,000 to 500,000 units this year, and revenue to range between 50 billion yuan and 55 billion yuan.