Greater China

Jiangnan swings into loss in first half

Shanghai: CSSC Jiangnan Heavy Industry (CSSC JNHI) reported a RMB60.31m loss in the first half, a sharp drop of 2,376% year-on-year, while the gross revenue is RMB319.2m, a decrease of 39.49% year-on-year.

The company attributed the less revenue to the sales decline of ship accessory products due to the continued depressed shipbuilding market.

The company aims to make breakthrough in  its non-ship business in the second half to complete the whole year operational targets, the company said in an announcement. [29/07/13]

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