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| Saturday, August 30, 2008 05:56:27 |
Brilliance optimistic despite trading hit
Brilliance China Automotive Holdings, BMW’s Chinese partner, fell as much as 9% to 25 US cents (HK$1.93) in Hong Kong trading Monday– its biggest fall since November 2004 – before rising slightly again, China Auto News reported. The sell-off came after the company posted a first half loss and amid concerns the company had risen above its earnings potential. However, the loss came after a financial write-off related to convertible bonds eroded gains from higher vehicle sales, and analysts expected the automaker's earnings to bounce back. “Brilliance’s earnings will improve next ...
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