L R AS Published on Saturday 4 April 2020 - n° 316 - Categories:company results
China's Shunfeng sinks further in 2019
Shunfeng increased its losses in 2019 to $265.2 million
for a turnover of $242 million (+5% over 2018). The company is gradually selling off certain assets (equipment production, power plants) to reduce its debt.
PV Magazine of April 3
NDLR When you lose the equivalent of your turnover, the future is very bleak. It would be better for the company to file for bankruptcy right away rather than increase its losses and thus its debts. But in China, logic is rarely respected.
