Asia
Trans-China Automotive's Q1 Revenue Declines 7%
Trans-China Automotive's (SGX:VI2) revenue dropped 7.3% to 425.3 million yuan in the first quarter from 458.9 million yuan a year earlier, according to a Wednesday filing with the Singapore Exchange.Trans-China attributed the decline to ceasing new car sales operations in its BMW Guangzhou dealership.The automotive dealership said it delivered 1,142 units between January and March, down 12.4% from the year-ago period.Shares of the company closed 8% lower on Wednesday.
SGX:VI2
