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Anhui Jianghuai Automobile Co Ltd, better known as JAC Motors, reported operating revenue of 14.63 billion yuan in the first three months, up 13.76 percent year-on-year. However, the net profit attributed to shareholders fell 69.13 percent to 65 million yuan.

Analysts said charging infrastructure will continue to be installed in the country and the number of the charging piles is sustaining steady growth month to month.

Analysts said the data show the pressure on industrial companies, but China’s consistent push for high-quality growth will help enterprises better deal with slowdowns in sales and their debt-asset ratios are likely to continue dropping.

Analysts said investors had specific things on their shopping lists in the portfolio balancing exercise.

Andrews also revealed that two men in their 80s had died after contracting the virus, taking the national death toll to 113.