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Driven by the significant increase in heavy truck sales and cost reduction measures, Foton Motor said last week that it expects its net profit in the first half of the year to increase by more than 150%. In the first half of last year, the company realized a net profit of 453 million yuan.
In the announcement released last week, Foton Motor reported that the company’s overall sales in the first half of the year increased by 29.4% year-on-year, with Auman’s sales of heavy trucks increasing by 85.8%. In addition, the company's product adjustments and cost reductions this year increased gross profit margin year-on-year, and it is expected that the company’s net profit attributable to shareholders of the parent company will increase by more than 150% year-on-year.
The medium- and heavy-duty truck business has become the fastest-growing sector in all sectors of Foton, and Foton Motor is currently accelerating the technical transformation of the Auman heavy-duty truck plant in order to expand it as soon as possible.
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