China Knowledge reported that XCMG Construction Machinery Co Ltd one of the leading construction machinery makers in China net profit fell 28.67% YoY to CNY 1.59 billion in the first half of this year, due to a sharp decline in sales volume of its major products.

The company in its interim report said basic earnings per share were CNY 0.77 during the period down 28.7% YoY. The company operating revenue decreased 7.96%YoY to CNY 17.96 billion in the first six months.

XCMG Construction Machinery saw the sales volume of its eight major products slide 29.9% YoY to 225,142 units in the period, due to weak demand.

Source - China Knowledge

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