China National Heavy Duty Truck Net Profit Increases 76.7%

China National Heavy Duty Truck (03808.HK) announced its interim results yesterday. As of June 30, 2010, the company's turnover was approximately RMB 22.2 billion, an increase of 52.8% year-on-year, and net profit was RMB 840 million, which represented a year-on-year increase of 76.7%. Earnings per share were RMB 0.3, up 36.4% year-on-year.

Tong Jingen, executive director of the company, said that sales of heavy trucks in the first half of the year have increased significantly compared to the same period of last year, but due to industry sales characteristics, sales in the second half of the year will not be as good as in the first half of the year. He said that based on experience, the sales ratio in the first half and second half is roughly 6:4. The company expects sales in the second half of the year will still increase compared to the same period of last year and will reach the target set at the beginning of the year, but he does not want to disclose the company’s total What is the sales target for the year?