China Huarong Asset Management Co Ltd (2799.HK) posted a 158.3 million yuan ($24.46 million) first-half profit following a deep 2020 loss and outlined plans to shore up its balance sheet in a a Hong Kong exchange filing on Sunday.
The logo of China Huarong Asset Management Co is seen at its office in Beijing, China, April 16, 2021. REUTERS/Thomas Peterposted a 158.3 million yuan first-half profit following a deep 2020 loss and outlined plans to shore up its balance sheet in a a Hong Kong exchange filing on Sunday.
Huarong is one of the four state distressed debt managers and counts China's finance ministry as its biggest shareholder. Sunday's annual results statement, which confirmed the deep loss, was delayed by nearly five months because of restructuring uncertainties.
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