Chinese automaker Dongfeng Motor said Tuesday that its net profits slumped 67.52 percent year on year to 95.67 million yuan (15.2 million U.S. dollars) in the first half of the year.
Business revenues totaled 9.96 billion yuan during the period, a decline of 10.39 percent year on year due to sluggish sales, according to the company's business report filed with the Shanghai Stock Exchange.
The company sold 149,000 units during the January-June period, down 10.8 percent year on year, the report said.
Earnings per share came in at 0.0478 yuan, according to the report.
Dongfeng forecast a drastic drop in its net profits this year, as weak demand for medium and heavy trucks will affect its subsidiary Dongfeng Cummins Engine Co., a major contributor to the company's profits.
Meanwhile, sluggish sales of light trucks will also contribute to lower profits for the year, the report said.
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