Changchun FAW-Sihuan Estimates H1 net up 350-400

Chinese auto components maker Changchun FAW-Sihuan Automobile Co Ltd (600742.SS: Quote, Profile, Research, Stock Buzz) said on Tuesday its first-half net profit rose by an estimated 350 to 400 percent from a year earlier, mainly due to an increase in investment returns of the company.

In a statement submitted to the Shanghai Stock Exchange, FAW Sihuan said its year-ago net profit in the period was 15.2 million yuan ($2.22 million), or earnings per share of 0.072 yuan. FAW Sihuan supplies parts to leading Chinese auto maker FAW Group. Listed Chinese companies are required to issue preliminary estimates if they expect to report earnings swings of at least 50 percent. ($1=6.835 Yuan)

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