Jingshan Light Machinery's pre-loss auto parts business in the first three quarters is a serious drag.

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Jingshan Light Machinery issued a performance forecast on the evening of the 15th. It is expected to lose 4 million yuan to 8 million yuan in the first three quarters, of which the third quarter will achieve a profit of 9.327 million yuan to 13.327 million yuan in a single quarter, but the profit mainly comes from investment income.
The company said that the auto parts casting business did not reach the expected production capacity target and suffered losses, which had a greater impact on the company's current profits. Jingshan Light Machinery intervened in the auto parts business in 2009. Cross-border investment has attracted widespread doubts in the market, and the company finally tasted the bitter fruit.
Regarding the better profitability in the third quarter, the company said that the main reason was that the securities investment achieved better returns; the second was that the company acquired 55% of the equity of Wuhan Yaohua Safety Glass Co., Ltd., because the merger cost was less than the Wuhan Yaohua Safety Glass Co., Ltd. acquired in the merger The fair value share of the company's identifiable net assets also generated revenue in the current period; in addition, the paper product packaging machinery business also improved compared with the same period last year.