Hyundai Motor says its operating profit plummeted by more than 20 percent in the second quarter from a year earlier amid China’s economic retaliation over the U.S. THAAD antimissile system.

The top South Korean automaker reported an operating profit of over one-point-34 trillion won for the April-June period, down 23-point-seven percent from the same period last year.

Its sales in the second quarter stood at 24-point-38 trillion won, marking a one-point-five percent on-year drop due to its declining sales in China.

The company said its net profit was slashed by 48-point-two percent to 913-point-six billion won, falling below the one-trillion-won mark for the first time since 2010, when the company began adopting the International Financial Reporting Standards(IFRS).

Its profit-to-sales ratio stood at five-point-five percent, sliding by one-point-six percentage points from last year.