24 May 2019

Nanjing Tanker may become first SOE to be delisted, paper says

Nanjing Tanker Corp. Ltd. (600087.CN) could become the first state-owned enterprise to be delisted from the stock exchange after it warned that it could book another net loss this year, the China Securities Journal reported Friday. Shares of the company have been suspended from trading this year after suffering three consecutive years of losses, according to the newspaper. Nanjing Tanker, the largest shipping firm operating in the nation’s inland rivers by capacity, said in a statement to the Shanghai stock exchange that it may not be able to turn a profit this year, after reporting a 984 million yuan (US$160.48 million) loss in the third quarter. If the annual loss is realized, the company will be delisted in accordance with stock exchange rules, the report said.

– Contact HKEJ at [email protected]




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