JMC Net Profit up 12% in 2013

www.chinatrucks.com: According to JMC annual sales report 2013, it sells 230,006 units of complete vehicles, up by 15% year on year. The sales volume of JMC light truck is 79,936 units, JMC pickup 67,733 units (8,985 units are Yuhu pickups), Yusheng SUV 14,160 units, Ford commercial vehicle 67,785 units and heavy truck 392 units.

Under IFRS, net profit in 2013 is RMB 1,696,307,000, up 11.95% from the same period last year, primarily reflecting income tax expense reduction generated from the different applicable tax rate of deductible deferred income tax assets accrual (25% vs. 15%) of JMC Sales Company established in the reporting period.

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