Shenzhen Seg Samsung Glass Co. Ltd<000068>, the joint venture between South Korean electronics company Samsung and China's Shenzhen Seg Group<000058><200058>, over the weekend posted a loss of more than RMB 1.32 billion for the first nine months of this year, sources reported.

The firm's net profit in the corresponding period of last year was RMB 20.73 million.

Seg Samsung Glass's revenue was RMB 475 million in the first three quarters of this year, down 74.82% year on year. The company attributed the substantial revenue decrease to declining demand for CRTs, a product it has now ceased to make.

Loss per share was nearly RMB 1.48 in the period from January to September. The big loss mainly came from the provision for inventory devaluation, an asset impairment loss of about RMB 1 billion, according to the quarterly report of Seg Samsung Glass.

Seg Samsung Glass has negatively impacted the business performance of Shenzhen Seg Group. The parent group has forecast a loss of RMB 179 million for the first three quarters of this year.