China Auto Logistics announced earnings results for the third quarter of 2014. For the third quarter, net loss attributable to shareholders totaled $1.8 million, or $0.44 per share, compared to a net profit of $0.5 million, or $0.15 per share in the year-ago period. Quarterly revenues decreased 26.4% year-on-year to $125.5 million as revenues from car sales, which accounted for 97.79% of the total, fell 26.8% relative to last year.

The company swung to a net loss in third quarter primarily due to anticipated year-on-year increases in depreciation and interest costs stemming from the Zhonghe acquisition made in November 2013, the Chinese provider of car sales and trading services said.