China Transmission Swings to Loss after Shifting Business Gears

Key Takeaways:

• The company reported a year-on-year revenue fall of just under 9% in the first half and posted a net loss of 78.7 million yuan
• With rising receivables in its commodity trading business, the company needed to borrow more to bolster liquidity, swelling its total liability by nearly 42% in six months to 22.46 billion yuan and almost doubling its financial costs