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Jinma Group announced on December 23 that its subsidiary Meishan Qimingxing Aluminium decided to cease production starting from De- cember 23,and that the company will keep a close eye to the market and will resume pro- duction once the market bounces back.In 2007, Jinma Group took over Meishan Qimingxing’s 40% share by 112 million yuan to enter the aluminium industry.Meishan Qimingxing’s assets include a 125,000-ton production line of aluminium and 168 300KA electrolytic baths. Affected by the state’s macro-regulation policy in early years,the company’s profit fell short of estimates.Net profit of Meishan Qimingxing in 2007 was 10.65 million yuan.
Jinma Group announced on December 23 that its subsidiary Meishan Qimingxing Aluminum decided to cease production starting from De- cember 23, and that the company will keep a close eye to the market and will resume pro- duction once the market bounces back. 2007, Jinma Group took over Meishan Qimingxing’s 40% share by 112 million yuan to enter the aluminum industry. Meishan Qimingxing’s assets include a 125,000-ton production line of aluminum and 168 300KA electrolytic baths. Affected by the state’s macro-regulation policy in early years, the company’s profit fell short of estimates. Net profit of Meishan Qimingxing in 2007 was 10.65 million yuan.