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Sinotruk expects huge decline in H1 net profit

Jul. 19, 2012 (China Knowledge) - Sinotruk (Hong Kong) Ltd<3808>, the Hong Kong-listed arm of China's largest heavy truck manufacturer China National Heavy Duty Truck Group Co, expects that its net profit for the first half of 2012 will reflect a huge decline.

From January to June 2011, Sinotruk (Hong Kong) Ltd's net profit hit RMB 994 million.

The heavy truck manufacturer said that the decline in the first half of this year was mainly due to the weakening heavy truck demands in China.

Last month, the company saw its sale volume decrease 8.85% from a month earlier, while its auto sales in the first half of this year dropped 21.82% from a year earlier.

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