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China Auto Electronics posts 45% rise in 3Q earnings to $14.7 mil

Benjamin Cher
Benjamin Cher11/29/2016 07:47 AM GMT+08  • 1 min read
China Auto Electronics posts 45% rise in 3Q earnings to $14.7 mil
SINGAPORE (Nov 29): China Auto Electronics reported a 45.4% jump in 3Q16 earnings to RMB71.3 million ($14.7 million) on higher sales and higher other income.
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SINGAPORE (Nov 29): China Auto Electronics reported a 45.4% jump in 3Q16 earnings to RMB71.3 million ($14.7 million) on higher sales and higher other income.

Revenue for the quarter also rose 29.8% to RMB820 million. This was driven mainly by higher revenue from its China operations, due to the increase in sales of wire harnesses and connector products which offset the lower sales from US operations due to delays in projects.

Other income in 3Q16 surged to RMB38 million from RMB1.1 million, mainly due to subsidy income amortised during the period.

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