(Yicai Global) Aug. 30 -- Leading Chinese automaker FAW Car Co. [SHE:000800] swung from net losses of CNY125.3 million in last year's first half to net profits of USD41 million (CNY270 million) in the same period this year.

 The company logged USD2.03 billion in operating income in the first half, up 58 percent annually. Its semi-annual report outed yesterday shows earnings of USD0.03 per share, compared with a loss per share of USD0.08 recorded for the same period last year.

 Car sales at the public company rose 38 percent in the year to 111,200 in the first half, per the report. Two models, the Attz and CX-4, FAW developed in a joint venture FAW with Japan's Mazda Motor Corp. [TYO:7261], recorded the strongest sales growth.

 FAW released its own small SUV model, the Besturn X40, in the first half, and has been integrating relevant marketing resources to boost its sales, the firm said, adding that it will innovate a product development philosophy focusing on improving interior design and passenger experience. Development of telematics applications is also underway to make its products more intelligent. 

 The company has fallen into arrears with the payment of some costs due to changes in its personnel and organizational structure, and this may affect its earnings results in the second half, the interim report warns.