Antong Holdings, parent company of China’s second largest domestic liner operator Quanzhou Ansheng Shipping, has capped its restructuring with a net profit for 2020.
The group announced net earnings of CNY1.29 billion (US$197.85 million), improving from the CNY4.51 billion (US$645.06 million) net...
https://container-news.com/antong-marks-turnaround-with-2020-profit/
Chinese domestic liner shipping group Antong Holdings announced on 19 December 2020 that it has completed its year-long restructuring process.
Alluding to its two main subsidiaries, Quanzhou Ansheng Shipping and Quanzhou Antong Logistics, Antong said, “After the company began restructuring, we have resolved the debt crisis of our two core subsidiaries through debt settlement, capital investment, and financial assistance. These have greatly improved the subsidiaries’ balance sheets.”
Antong said...
https://container-news.com/antong-completes-year-long-reorganisation/
Fujian Zhaohang Logistics, the government-led entity that is restructuring struggling Chinese domestic liner shipping group Antong Holdings, has, with 12 other Chinese investors, injected CNY4.53 billion (US$688 million) into the company.
Of the funds, CNY1.35 billion (US$205.24 million) came from Fujian Zhaohang, a joint venture between China Merchants Port Holdings, AVIC Trust and Quanzhou’s municipal government.
Following the cash injection, Antong’s next step will be to implement...
https://container-news.com/antong-gets-us688-million-cash-injection/
Quanzhou Municipal Government has formed a joint venture, with Chinese state-owned entities, China Merchants Port Holdings (CMPH) and AVIC Trust, to restructure the financially strapped Chinese liner shipping group Antong Holdings.
Antong Holdings, parent of Quanzhou Ansheng Shipping, said in a filing to the Shanghai Stock Exchange that Fujian China Merchants Ports Logistics Management Partnership (the literal translation of the Chinese name) has submitted a restructuring proposal to its...
https://container-news.com/government-backed-jv-to-restructure-antong-holdings/
Chinese state-owned groups China Merchants Port Holdings (CMPH) and Aviation Industry Corporation of China (AVIC) have expressed an interest in restructuring troubled Chinese domestic container shipping group Antong Holdings.
In filings submitted to the Shanghai Stock Exchange (SSE) on 24 July 2020, Antong, which operates a liner service through Quanzhou Ansheng Shipping, said that it had signed an agreement with AVIC Trust, a non-banking financial institution.
On 28 July 2020, Antong made...
https://container-news.com/troubled-antong-mulls-restructuring-options/
Guo Dongze and Guo Dongsheng, majority shareholders of Chinese domestic container operator Antong Holdings, and other senior staff have been penalised by the China Securities Regulatory Commission (CSRC) for failing to disclose lawsuits against the company.
Antong Holdings stated in a filing to the Shanghai Stock Exchange on 4 July that CSRC’s investigations showed that from February 2017 to March 2019, the Guo brothers provided unauthorised guarantees amounting to CNY633.36 million (US$90.15...
https://container-news.com/chinas-securities-watchdog-punishes-antong-bosses/
Antong Holdings, parent company of Chinese domestic operator Quanzhou Ansheng Shipping, will receive around US$8.4 million in government subsidies, after disclosing estimated losses of at least US$428 million for 2019.
Antong was placed under judicial management to restructure its debts on 18 December 2019 after failing to settle payments to suppliers, including container lessors and bunker suppliers. The company said it also risks being delisted from the Shanghai Stock Exchange.
A company...
https://container-news.com/government-pays-to-refloat-troubled-domestic-carrier-antong/