BEIJING: A distressed Chinese fertiliser company said it may report one of the nation’s biggest-ever annual losses, sparking a slump in its shares and underscoring the challenges faced by some pockets of corporate China as the economy slows.
The stock fell by the 5% daily limit at the open in Shenzhen, before paring its decline to 1.2% at the midday break. Qinghai Salt initiated a rare court-led debt restructuring last year, and analysts are watching it closely for clues on the magnitude of losses creditors may have to incur.
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