Greater China

CSIC gets RMB2bn selling non-marine assets

Beijing: Lepu Medical, a listed medical company in China has announced that two subsidiaries of China Shipbuilding Industry Corporation (CSIC) which were the largest and second largest shareholders of the company, have sold 43.26% of its shares worth about RMB2bn to four equity management companies.

CSIC, one of the two largest state owned shipbuilding companies in China, reported a net profit of RMB732.5m in the first quarter of 2014, a year-on-year drop of 17.17%. The company received new orders worth RMB26.6bn in the same period, a year-on-year decrease of 5.35%. [10/06/14]

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