The pressure keeps mounting on Chinese shipping group China Cosco Holding Co. (CCHC) after the presentation of a net deficit of CNY 1.04bn (USD 170m) in the third quarter. It means the group has just three months to make it back into the black to avoid being delisted from the Shanghai Stock Exchange, according to Tradewinds.
If they fail to make it into the black by year’s end, Cosco will have presented deficits for three years running, which results in an automatic delisting from the stock exchange. The company has attempted to get back on track by selling shares in both Cosco Logistics and Cosco Container Industries to raise capital. But so far, it has proved insufficient.
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