(Yicai Global) July 30 -- Tesla's share price has risen after the company released its regional earnings for the first half of the year, showing strong sales growth in China, its second-largest market. The stock price is still below its earlier level before publishing its second-quarter results six days ago.

Tesla's equity price [NASDAQ: TSLA] rose 3.4 percent to close at USD235.8 yesterday. The share slumped 14 percent on the morning of July 25.

The Palo Alto-headquartered firm's sales in China hit USD1.5 billion, up nearly 42 percent from the previous year, it said in a statement yesterday. In the first quarter, sales in China rose 53 percent to USD779 million, while the pace slowed down to USD690 million in the following quarter. 

Tesla may open its Shanghai Gigafactory earlier than anticipated this year, the report, signed by Chief Executive Elon Musk, shows. The company's first overseas plant, located in Lingang New City, will have an annual production capacity of 150,000 second-generation Model 3s. 

In the second quarter, the number of delivered cars rose to 95,200 units globally, more than expected, the firm's earnings report released on July 24 shows. Over 80 percent of the units were Model 3s. However, automotive gross margins fell to 18.9 percent from the previous quarter's 20.2 percent.

The firm's total operating income rose 59 percent to USD6.4 billion in the second quarter. Its net loss attributable to ordinary shareholders narrowed to USD408 million, a figure below expectations.

US remains as the electric carmaker's biggest market, with a contribution of USD5.8 billion to earnings in the first half. Norway was third on the list with USD796 million and Finland fourth with USD361 million. 

Editor: Emmi Laine