27
Jun
07:53
Fushun admits to having lost money for years
Northern China's Fushun Special Steel has admitted it had overstated the value of its assets by CNY 1.77 billion ($277 million) by the end of 2016. It has now taken a write-down and adjusted its results for previous years to compensate. The issue delayed the release of its 2017 annual report, putting it at risk of delisting from the Shanghai Stock Exchange, Kallanish notes.
By the end of 2016, the company had overstated its total and net asset…
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Anonymous
Very good overview of the weekly steel market.
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