BEIJING, April 14 Shares in Chongqing Changan
Auto surged on Monday, touching their highest daily
trading limit after the company reported robust earnings for
2013 and predicted strong net profit growth in the first quarter
of this year.
The earnings report, released on Saturday, showed
preliminary 2013 net profit up 142.4 percent on year to 3.51
The company sees first-quarter net profit rising over 200
percent on year to as much as 2.05 billion yuan ($329.98
The strong results pushed the shares up 10 percent, their
highest single-day gain since October 2013.
China's vehicle sales grew 6.6 percent in March, China
Association of Automobile Manufacturers said on Friday. The
association forecast the market would grow 8-10 percent this
year, slowing from last year's 13.9 percent pace.
(Reporting By Natalie Thomas; Editing by Sunil Nair)