Zhongda suffers profits fall

Vehicle-equipment maker Zhongda International Holdings posted a net profit of Yn2.6m for 2002 compared
with Yn33.5m in 2001, South China Morning Post said. Turnover dropped 3.8 per cent
toYnl73m.
The announcement was made two months after its deadline under
listing rules. Zhongda blamed the profit fall on changes in the automobile repair and
maintenance market and the global economic recession.