Chinese carmaker Geely Auto has warned of continued “uncertainty” around production because of chip supply shortages, underscoring sustained pressure on the recovery in the world’s largest car market.
Geely, the Hong Kong-listed subsidiary of China’s largest private carmaker by sales, on Wednesday announced revenues of Rmb45bn ($6.9bn) for the first six months of 2021, up 22 per cent year on year but below the Rmb48.9bn average estimated by a Bloomberg analyst survey.
The group reported net profits of Rmb2.38bn, up only 4 per cent compared with the same period last year. This was also below market expectations of Rmb3.2bn.
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