Shanghai: CSC Phoenix, the bankrupt subsidiary of Sinotrans & CSC Holdings currently under a restructuring, announced that the company is expected to post a net profit of RMB20m-RMB35m in the first half of 2014.
CSC Phoenix said the profit mainly thanks to innovation, tightened management and new salary administration mechanism.
CSC Phoenix suffered losses in three consecutive years and its stock trading has been suspended by the stock exchange. The company said its primary goal this year is to resume stock trading next year. [14/07/14]