Auto Early 10%

Beijing time November 5 Evening News, the Chinese concept stocks auto early intraday plunge about 10%. As of 23:25, auto fell 5.20 U.S. dollars, reported 44.99 U.S. dollars, a decrease of 10.35%.

Auto announced today that it plans to submit a registration statement to the US Securities and Exchange Commission around the eastern time of November 5, proposing a public offering of US depository shares (ADS) by auto and specific stock-selling shareholders, including Telstra Holdings Pty 2¥q. The total amount and timing of the ads shares will depend on market conditions.

In addition, auto today released the third quarter of fiscal year 2014 earnings, net revenue of 545.1 million yuan (about 88.8 million U.S. dollars), the year-on-year growth of 64.6%. Net profit of 170.9 million yuan (about 27.8 million U.S. dollars), an increase of 25.5%. Based on non-US general accounting standards, the adjusted net profit was 183.9 million yuan (about 30 million U.S. dollars), up 30% from the 141.5 million yuan a year earlier.