JH Auto Safety (HKG:0872) sees less profit for 2011


Jinheng Automotive Safety Technology Holdings Limited (HKG:0872) expected to result in a decline in the profit attributable to the equity shareholders of the Company for the year ended 31 December 2011 as compared to that of the corresponding period in 2010.

The decline in profit is mainly attributable to a one-off gain result from a very substantial disposal transaction amounted to approximately HK$698.8 million, and a loss to be recognized as a result of the proposed disposal of equity interest in Yantai Vast Co., Ltd. It is expected the Group may be required to recognize a loss of approximately HK$26 million in related to this disposal for the year ended 31 December 2011, which is non-cash in nature.


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