Zhongchang Marine replenishes capital of subsidiaries

Zhongchang Marine, the only listed private shipping company in China, announced today that it will replenish capital of two of its fully controlled subsidiaries.
Zhongchang Marine will add RMB50m and RMB100m capital to Zhoushan Mingbang Trade Co and Zhouchang Marine (Shanghai) respectively.
Zhongchang Marine said the current condition of the two company’s assets and liabilities is not conductive to business development and obtaining external financing. The company hopes to lower the subsidiaries’ asset liability ratio to enhance their operational capability and ability to resist risks.
Source: SinoShip News