TABLE-China truck maker Foton Q1 net up 152 pct

April 30 (Reuters) - Quarter ended March 31, 2008.

(in millions of yuan unless stated, against 2007 figures):

2008 2007

Turnover 8,042.92 vs 6,226.19

Net profit 167.34 vs 66.44

Earnings per share (yuan) 0.206 vs 0.082

Net assets per share (yuan) 2.54 vs 2.36*

Company: Beiqi Foton Motor Co (600166.SS: Quote, Profile, Research, Stock Buzz) is a major domestic
truck maker. It runs a $240 million engine venture with Cummins
Inc (CMI.N: Quote, Profile, Research, Stock Buzz).

Note: The unaudited quarterly results, compiled under
domestic accounting standards, were released on Wednesday.

In early April, Beiqi Foton said its net profit in the first
quarter rose at least 150 percent, helped by rising sales of high
value-added vehicles as well as government assistance.

It sold 123,414 vehicles in the first three months, up 28.6
percent from a year earlier.

Non-operating income jumped to 49.0 million yuan ($7.02
million) from 0.9 million yuan a year earlier due to increased
subsidies from the government.

Foton said on Wednesday it had reached a preliminary deal
with Daimler AG (DAIGn.DE: Quote, Profile, Research, Stock Buzz) to set up a truck-making joint venture
in China. It did not disclose any financial details or the
potential size of the venture.

The companies are also exploring opportunities to form a
global partnership, the statement added.

* Net assets per share as of the end of 2007.
($1=6.984 Yuan)
(Reporting by Fang Yan in Shanghai; Editing by Edmund Klamann)