rongsheng group quotation

Rongsheng Petro Chemical Co, Ltd. specialises in the production and marketing of petrochemical and chemical fibres. Products include PTA yarns, fully drawn polyester yarns (FDY), pre-oriented polyester yarns (POY), polyester textured drawn yarns (DTY), polyester filaments and polyethylene terephthalate (PET) slivers.

RONGSHENG PETROCHEMICAL CO., LTD. is a China-based company principally engaged in the research, development, manufacture and distribution of chemicals and chemical fibers. The Company’s main products include aromatics, phosphotungstic acid (PTA), polyethylene terephthalate (PET) chips, terylene pre-oriented yarns (POYs), terylene fully drawn yarns (FDYs) and terylene draw textured yarns (DTYs), among others. The Company distributes its products in domestic market and to...More

HONG KONG, July 5 (Reuters) - China Rongsheng Heavy Industries Group, China’s largest private shipbuilder, has laid off some workers and is also delaying payments to suppliers and other employees, the company said on Friday.

China Rongsheng said it was expecting a net loss for the six months that ended June 30, 2013 from a year earlier, according to a filing to the Hong Kong stock exchange.

“On 2 July 2013, certain workers who have been made redundant during the workforce restructuring and optimization process have formed a blockade outside the headquarters of the Group’s production base in Nantong,” the company said.

Trading in shares of China Rongsheng will resume on Friday after being suspended on Thursday. On Wednesday, its shares closed down 10 percent at HK$1.06.

China Rongsheng is a major supplier of bulk carriers that ship iron ore from producer nations such as Brazil to China. Brazil’s Vale is one of its customers. (Reporting by Clement Tan and Twinnie Siu; Editing by Dean Yates)

SHANGHAI, Aug 29 (Reuters) - China Rongsheng Heavy Industries Group, the country’s largest private shipbuilder, said its first-half net loss widened more than ten times as shipowners continued to postpone vessel deliveries amid a prolonged industry slump.

The shipbuilder, which faced possible insolvency last year before agreeing in March with banks to extend its loans, also said it would make an announcement related to the group’s restructuring. Its shares were put on a trading halt pending the announcement.

Rongsheng reported a net loss of 3.1 billion yuan ($505 million) for the first half, compared to a loss of 285 million yuan in the same period last year.

Rongsheng said it entered new shipbuilding contracts for six vessels worth a combined $167.4 million over the first half. As of June 30, it had an order book of 90 vessels, representing a total contract value of $4.2 billion.

Zhejiang Rongsheng Holding Group Co., Ltd., through its subsidiaries, engages in the businesses of petrochemical, polyester, spinning, false-twisting, logistics, coal chemicals, real estate, and venture investment businesses.