Shanghai Bestway Marine Engineering Design is going to streamline its business through asset disposals.
The company has announced that it plans to dispose of its loss-making yacht business in order to lower the company’s financial burden, which it is also selling a 19% equity stake in Dalian Yuchai Energy, a company mainly focused on LNG-powered vessels.
The company said it will look to spend more capital on the development of its offshore and clean energy business in the future.
Shanghai Bestway reported a net profit of RMB13.4m ($2.11m) for the first three quarter of this year, down 9% year-on-year.
