Hong Kong-listed AviChina Industry sees strong 2007 results for unit
Hong Kong (XFN-ASIA) - AviChina Industry & Technology Co Ltd said its A-shares listed unit Dongan Motor is expected to report more than 100 pct year-on-year growth in its 2007 results under Chinese accounting standards.
AviChina said Dongan Motor's expected strong results are due mainly to the significant growth in the sales volume of engines produced by its unit Harbin Dongan Engine Manufacturing Co.
Dongan Motor's unaudited 2007 net profit amounted to 89 mln yuan and income from principal activities was 1.8 bln yuan.
At 10.52 am, AviChina was up 0.11 hkd or 5.88 pct at 1.98.