The board of directors of the Jinheng Automotive Safety Technology Holdings Ltd. announced that the group is expected to record a consolidated loss for the year ended December 31, 2012 as compared to a profit for the corresponding period in year 2011. The expected loss is mainly attributable to an one-off profit tax expenses in related to the disposal of 100% equity interest in Jinheng (BVI) Limited and its subsidiaries in 2010. Such profit tax expenses amount to approximately RMB 26.4 million (equivalent to approximately HKD 32.2 million).
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