Haisheng receives subsidy

Shanghai: Shanghai-listed China Shipping Haisheng announced that the company has received a RMB8.8m subsidy from Haikou municipal transport and port & shipping authority for its development of the local shipping industry.

The subsidies will have a positive effect on the annual results of the company, Haisheng said.

China Shipping Haisheng is a subsidiary of China Shipping Group, and focuses on both domestic and international transport of raw materials.

The company reported a net loss of RMB90.6m for the first half and predicted further losses in the coming months of this year. [10/12/14]

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