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Chongqing Iron & Steel Co Ltd (1053.HK)

1053.HK on Hong Kong Stock

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Latest Key Developments (Source: Significant Developments)

Chongqing Iron & Steel says it is hard to predict whether it will book profits in current year
Thursday, 25 May 2017 06:51pm EDT 

May 26 (Reuters) - Chongqing Iron & Steel Co Ltd <601005.SS>:has proactively taken multiple measures to enhance its ability to continue as a going concern.is hard to accurately predict whether company will be able to achieve profits in current year.currently, steel market as a whole is under great operating pressure..a reorganisation application against company has been applied by a creditor."reorganisation procedures can exert protective and remediable effects on company at current stage".  Full Article

Chongqing Iron & Steel says it has been confronted with an "austere situation" in both production and operation
Thursday, 25 May 2017 06:39pm EDT 

May 26 (Reuters) - Chongqing Iron & Steel Co Ltd <601005.SS>:has been confronted with an austere situation in both production and operation, facing severe financial strain.as at 31 December 2016, equity attributable to owners of company was a loss of rmb107 million.had in-depth communications with major creditors in respect of debt repayment scheme.court is currently reviewing application for reorganisation of co."company is still exposed to risk of being declared bankruptcy by court as a result of failure of reorganisation".there is uncertainty as to whether or not co can enter into reorganisation procedure.  Full Article

Chongqing Iron & Steel to halt asset restructuring after failing to meet regulatory requirements
Tuesday, 2 May 2017 04:27am EDT 

May 2 (Reuters) - Chongqing Iron & Steel Co Ltd <601005.SS>1053.HK:Says it has decided to terminate asset restructuring as restructuring proposal failed to meet regulatory requirements.  Full Article

Chongqing Iron & Steel Co says Q1 revenue from operations RMB1.65 billion
Thursday, 27 Apr 2017 08:02pm EDT 

April 28 (Reuters) - Chongqing Iron & Steel Co Ltd <601005.SS> ::Q1 revenue from operations RMB1.65 billion versus RMB1.41 billion.Qtrly net loss RMB 593.9 million versus loss of RMB 992.5 million."It is expected that the accumulative net profit as at the end of the next reporting period is likely to remain negative"."Loss will be significantly decreased as compared to the same period of the previous year".  Full Article

Chongqing Iron & Steel says it received a notice from Chongqing Laiquyuan Trading
Monday, 24 Apr 2017 07:03pm EDT 

April 25 (Reuters) - Chongqing Iron & Steel Co Ltd <601005.SS>:Received a notice from chongqing laiquyuan trading co., ltd.Chongqing iron & steel co ltd - notice sets out application by laiquyuan co to chongqing municipal first intermediate people's court for reorganisation of co.Chongqing iron & steel co- notice refers to reorganisation of co on ground that co is unable to repay due debts and co's assets are insufficient for repayment of all its debts.Chongqing iron & steel co -if court formally accepts application for reorganisation of co, co will be exposed to risk of declaration of bankruptcy.  Full Article

Chongqing Iron & Steel Co updates regarding progress for material assets reorganisation
Thursday, 20 Apr 2017 11:12am EDT 

April 20 (Reuters) - Chongqing Iron & Steel Co Ltd <601005.SS>:Trading in a shares of company will remain suspended.Iron and steel assets to be disposed involve large scale of debt with numerous creditors and complex liabilities associated with litigations.  Full Article

Chongqing Iron & Steel updates on dispute between co, Taiyuan Heavy Industry, Zoomlion Material
Thursday, 20 Apr 2017 05:45am EDT 

April 20 (Reuters) - Chongqing Iron & Steel Co Ltd <601005.SS>:Recently received "notice of appearance" served by people's court of Changshou District.Case related to dispute between Taiyuan Heavy Industry as plaintiff and Zoomlion Material and co had been accepted by court.Plaintiff's claim to court for a ruling that Zoomlion Material and co do pay facilities fees and warranty fund of RMB12.1 million.  Full Article

Chongqing Iron & Steel announces suspension of listing of debt securities
Tuesday, 11 Apr 2017 06:24am EDT 

Chongqing Iron & Steel Co Ltd <601005.SS> : Listing of debt securities "10 Chonggang Zhai" issued by co will be suspended on Shanghai Stock Exchange from 13 April onwards Source (http://bit.ly/2nYKowy) Further company coverage: [601005.SS] ((Bangalore.newsroom@thomsonreuters.com;)).  Full Article

Chongqing Iron & Steel Co says work of material assets reorganisation is still being planned
Thursday, 6 Apr 2017 05:53am EDT 

Chongqing Iron & Steel Co Ltd <601005.SS> : Work of material assets reorganisation is still being planned .Trading in A shares of company will remain suspended.  Full Article

Chongqing Iron & Steel Co says reports that delisting risk warning will be imposed on a shares of co
Thursday, 30 Mar 2017 10:37am EDT 

Chongqing Iron & Steel Co Ltd <601005.SS> :As net profit attributable of co in years of 2015 and 2016 were negative, delisting risk warning will be imposed on a shares of co.  Full Article

More From Around the Web

Chongqing Steel warns of uncertainty in steel asset sales, shares still suspended

SHANGHAI Chinese steelmaker Chongqing Iron & Steel Co warned late on Thursday that its plans to sell off debt-ridden iron and steel assets faced "uncertainties" and might not go ahead, saying trading in its shares would remain suspended.