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/
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/