China Shipping Container Lines has issued a profit warning to its shareholders.
The liner company said Monday that based on a preliminary estimate by its finance department, it expects to record a net loss of 2.63 billion Chinese yuan renminbi ($435 million) in 2013 based on China Accounting Standard for Business Enterprises. It saw a profit of 523 million RMB ($86 million) in 2012.
It noted the profit warning announcement is based on the company’s preliminary review of management accounts, which have not been confirmed nor reviewed by auditors.
China Shipping issues profit warning
