Qimingxing Aluminium of Jinma Group Ceases Production

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.