Mar. 8, 2012 (China Knowledge) - FAW Car Co Ltd<000800
>, a listed unit of Changchun-based
China FAW Group Corp, said yesterday that it expected its net profit to fall 88.34% year on year to RMB 217 million last year amid a slowing Chinese auto market.
Basic earnings per share were estimated at RMB 0.13, down 88.34% year on year.
The automaker's unaudited operating revenue declined 12.45% year on year to RMB 32.65 billion in 2011.
The company earlier reported a net profit of RMB 754 million for the first three quarters of last year, which indicated that it suffered a loss of RMB 537 million in the fourth quarter.