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China's Geely Automobile first-half profit drops 43% on coronavirus hit

SHANGHAI, Aug 17 (Reuters) - China’s Geely Automobile Holdings Ltd said on Monday first-half net profit fell 43%, as the coronavirus outbreak slammed the brakes on auto sales in the world’s biggest market.

Geely, China’s highest-profile automaker globally due to the group’s investments in Volvo Cars and Daimler AG, posted January-June profit of 2.3 billion yuan ($331.37 million), versus 4.01 billion yuan in the same period a year prior. ($1 = 6.9409 Chinese yuan renminbi) (Reporting by Yilei Sun and Brenda Goh; Editing by Sayantani Ghosh and Christopher Cushing)

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