Chery H1 profit falls 11.7% as overseas revenue surges 51%

Chery Auto's H1 profit attributable to owners fell 11.7% year-on-year to 8.57 billion yuan ($1.26 billion), despite revenue rising 1.2% to 143.28 billion yuan. Overseas revenue surged 51% to 98.97 billion yuan, accounting for 69% of total revenue, but lower foreign-exchange gains and higher R&D expenses weighed on earnings.