Parent Co. To Inject Assets Into China Shipbuilding Industry

China Shipbuilding Industry received a notification by its parent company, China Shipbuilding Industry Corporation (CSIC) that CSIC will inject shipbuilding assets and other related business assets including military assets into it, reports National Business Daily, citing a company filing.
China Shipbuilding Industry had earlier suspended the trading of its stock effective May 6. According to the company, it plans to resume trading of its stock on June 5.
According to the report, China Shipbuilding Industry account for about 14.06 percent and 26.96 percent of the net profit and net asset of CSIC.
The shipbuilding and ship maintenance assets of CSIC included Bohai Shipbuilding Heavy Industry and Dalian Shipbuilding Industry, which had a sales turnover exceeding 20 billion yuan in 2009.