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China's Geely Automobile first-half profit slumps 35%

SHANGHAI, Aug 18 (Reuters) - China's Geely Automobile Holdings Ltd0175.HK said on Thursday its first-half net profit fell 35%, as the country's strict COVID-19 restrictions dented sales and disrupted production. Hangzhou-based Geely, China's highest-profile automaker globally due to the group's investments in Volvo Cars and Mercedes-Benz, posted January-June profit of 1.55 billion yuan ($228.33 million), versus 2.38 billion yuan in the same period a year earlier. ($1 = 6.7883 Chinese yuan renminbi) (Reporting by Zhang Yan, Brenda Goh; Editing by Muralikumar Anantharaman) ((Zoey.Zhang@thomsonreuters.com;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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