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BRIEF-Tianma Bearing Group swings to red in 2016, scraps JV plan
April 28, 2017 / 8:14 AM / in 4 months

BRIEF-Tianma Bearing Group swings to red in 2016, scraps JV plan

April 28 (Reuters) - Tianma Bearing Group Co Ltd

* Says it scraps plan to jointly set up property insurance JV as it failed to meet requirements due to net loss in 2016

* Says it swings to net loss of 252.2 million yuan ($36.57 million) in 2016 versus net profit of 47.2 million yuan year ago

Source text in Chinese: bit.ly/2pssTcr; bit.ly/2oP1EF5

Further company coverage: ($1 = 6.8970 Chinese yuan renminbi) (Reporting by Hong Kong newsroom)

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