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JAC Motors' H1 Loss to Narrow; Shares Jump 5%

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Anhui Jianghuai Automobile (SHA:600418), or JAC, expects its net loss attributable to shareholders for the first half will narrow year on year to 740 million yuan from 772.8 million yuan, according to a Shanghai bourse filing on Thursday.

Loss per share a year earlier was 0.35 yuan.

The forecast was attributed to stringent market competition that led to a decline in vehicle sales, as well as overall investment losses of about 130 million yuan and exchange rate fluctuations.

The carmaker's shares jumped 5% during the midday trade.

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