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Guangzhou Auto’s 2012 profit down 70-80 percent


Guangzhou Automobile Group, one of China's big state-owned auto companies, announced it expects its 2012 net profit to decline by 70 to 80 percent from a year earlier. “The estimated results have not been audited by any certified accountants,” reads the statement cited by Reuters, adding that the figures represent preliminary estimates. Last year, the carmaker posted a net profit of ...
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