China Rongsheng says seeks govt help, warns of H1 loss

China Rongsheng Heavy Industries Group, China’s largest private shipbuilder, said on Friday it had sought financial help from the Chinese government and big shareholders after laying off some workers and delaying payments to suppliers.

Suffering from a downturn in the shipping industry, China Rongsheng said it was expecting a net loss for the six months that ended June 30 from a year earlier, according to a filing to the Hong Kong stock exchange. It gave no figures.

via Business feed http://www.scmp.com/business/companies/article/1275821/china-rongsheng-says-seeks-govt-help-warns-h1-loss