Jinheng Automotive Safety Technology (HKG:0872) said that, on 28 December 2011, it entered into agreements for the sale of all its 50% equity interest of Yantai Vast Co., Limited, including 45% sold to Shanghai Yiyang Investment Company Limited for RMB18.54 million and 5% sold to Laiyang Faith Vehicle Parts Company Limited for RMB2.06 million.

Jinheng expects a loss of HK$28 million attributable to the disposals for the year ending 31 December 2011.

Yantai Vast is principally engaged in manufacturing and sale of cylinder liners and spare parts of automobile engines.