Changfeng Axle (China) Company Limited provided consolidated earnings guidance for the year ending December 31, 2013. For the period, the company expected the group may continue to record a loss in light of (i) the decrease in sales volume of the group's axle components due to the weak market of medium and heavy duty truck; (ii) the continuing pressure on the gross margins of the group's axle products under the continuous keen competition within the industry; (iii) the increase in research and development expenses; (iv) the potential impairment losses to be recognized in respect of property, plant and equipment and (v) the potential impairment losses to be recognized in respect of the group's trade receivables.
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