Date
24 October 2017

Nanjing Tanker first central SOE to be delisted, paper says

CSC Nanjing Tanker Corp. (600087.CN) and Chang Jiang Shipping Group Phoenix Co. Ltd. (000520.CN), the two listed units under Sinotrans & CSC Group, which is also the parent of Sinotrans Ltd. (00598.HK), are on the brink of being delisted after both forecast large losses for 2013, China Business News reported Thursday, citing unidentified sources. Nanjing Tanker saw a net loss of at least 1.27 billion yuan (US$209.47 million) while Chang Jiang Shipping expected to post a deficit of up to 4.8 billion yuan, contributing to the parent’s more than 10 billion yuan loss for the period. The group’s chairman Zhao Huxiang said recently Nanjing Tanker, whose shares have been suspended from trading, would inevitably become the first central government-owned enterprise to get delisted, the report said.

– Contact HKEJ [email protected]

TL/AC/CG

 

 

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