By Yi Wei Wong
Guangzhou Automobile Group Co.'s first-half net profit fell as automotive sales plunged amid the Covid-19 pandemic.
The automobile group said late Friday that net profit dropped 53% to 2.32 billion yuan ($337.9 million) in the first half.
Revenue fell 9.6% to CNY25.62 billion, it said.
Guangzhou Automobile said it will focus on generating stable growth in the second half.
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