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Auto News Articles - New accounting rules boost profits
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New accounting rules boost profits
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Source: China Economic Net
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Date:4/3/2008
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Source Link: Click Here |
FAW Car Co, the Chinese partner of Mazda Motor Corp, doubled full-year profits. Net income rose to 552.9 million yuan from 276.5 million yuan, a year earlier, the Changchun, Jilin Province-based car maker said. New accounting rules helped boost FAW Car's profit, as the company could treat research costs in a different way, it said.
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