Financially troubled shipyard Sainty Marine has announced that two vice general managers of the company – Weng Jun and Jiang Zhi – have resigned from their posts.
Currently Sainty Marine is working on a restructuring under a court ruling. So far, a total of 138 creditors are claiming RMB8.1bn ($1.24bn) in unpaid debts. The company has also estimated a net loss of RMB5.34bn ($821m) for the year of 2015.
Sainty Marine said it is facing huge risks of delisting due to ongoing investigations by China Securities Regulatory Commission, and poor financial results.
The company’s bond issue has already been terminated by the Shenzhen Stock Exchange on March 18.
