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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.