(Yicai) Aug. 28 -- Haima Automobile said its net loss widened 139 percent in the first half of this year from a year ago due to a dip in overseas income, which accounts for over half of the Chinese carmaker's total.

Net loss was about CNY152 million (USD21.3 million) in the six months ended June 30, Haima said in an earnings report yesterday. Revenue plunged 65 percent to CNY596 million despite the firm trying to sell assets to boost performance.

Haima's sales sank 73 percent to 4,589 units, the Haikou-based company noted. Overseas income tumbled 68 percent to about CNY460 million.

Haima has tested and validated its first hydrogen fuel cell vehicle, the Haima 7X-H, and produced the first batch of 25 test autos while also launching a related demonstration operation program, it said. Producing such cars still has a high cost, with their proportion among new energy vehicles remaining small, it added.

In March, Haima said it plans to entrust Zhengzhou Airport NEV Operation Management to operate its unit Haima NEV and its assets for five years, with a deposit of CNY199 million. In June, it announced plans to transfer 95 percent of its stake in Zhengzhou Haima New Energy Technology to Henan Haima Property Service.

Haima secured CNY22 million (USD3.1 million) in government subsidies in the first half, which equals 11 percent of its audited net profit last year.

As the only new energy passenger vehicle maker in the Hainan Free Trade Port, Haima has four big passenger car factories with complete manufacturing processes in Haikou and Zhengzhou, the company said.

Shares of Haima [SHE: 000572] ended 1 percent lower at CNY3 (42 US cents) apiece in Shenzhen, after dropping by as much as 1.3 percent earlier today.

Editor: Martin Kadiev