Anhui Jianghuai Automobile or JAC Motors (SHA:600418) forecasts it will swing to a net loss of 1.77 billion yuan in 2024 from a profit of 151.5 million yuan in the year-ago period, according to a Saturday filing with the Shanghai Stock Exchange.
The loss is being attributed to a 1.35 billion yuan loss from its Volkswagen Anhui joint venture and a 1.1 billion yuan provision for impairment losses, the filing said.
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