CHONGQING Changan Automobile Co said first-quarter profit fell 14 percent as competition caused the company's profit margin to narrow.

Net income fell to 161.2 million yuan (US$20.9 million), or 0.1 yuan per share, by international accounting standards, from 186.4 million yuan, or 0.12 yuan, a year earlier, the Chongqing-based company said in a Shenzhen stock exchange statement yesterday.

Sales rose to 6.6 billion yuan from 5.9 billion yuan. Chongqing Changan is a partner of Ford Motor Co.

Source:佚名