Auto plans equity issue closes 12%

Beijing time November 6 early morning news, the Chinese concept stocks auto Wednesday Early intraday plunge, as close auto fell 6.11 U.S. dollars, reported 40.08 U.S. dollars, a decrease of 12.17%.

Auto announced yesterday that it planned 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. (Feng Zi)