Caixin OnlineBusiness & IndustryTop Stories Industry Closer Look: The COSCO Maelstrom
05.02.2013 19:44

Closer Look: The COSCO Maelstrom

COSCO Chairman Wei Jiafu can save the company from struggling in a swirl of conflicting interests by taking the company's shares off of public exchanges
By Wang Lan
A

Shipping giant China COSCO Holdings Co. Ltd. announced March 28 that the Shanghai Stock Exchange (SSE) would tag the company's shares for "special treatment." The measure is used to warn investors of a company's possible delisting after a company reports two straight years of losses.

In 2011, COSCO lost 10.4 billion yuan, and it posted annual losses of 9.56 billion yuan in 2012, marking the second straight year the company reported a loss.

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Twenty months into a campaign against corrupt leaders, the crackdown is accelerating and the public is in the loop
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