SHANGHAI, Jan 13 (Reuters) - China's Qinghai Salt Lake Potash Co Ltd 000792.SZ, the nation's larges
SHANGHAI, Jan 13 (Reuters) – China’s Qinghai Salt Lake Potash Co Ltd 000792.SZ, the nation’s largest producer of potash, has forecast its third consecutive annual loss, an end result that would consequence within the firm’s delisting from the Shenzhen Inventory Alternate.
In a inventory alternate submitting on Saturday, the state-owned agency forecast an working loss for the fiscal yr ended Dec. 31, 2019, however clarified that its monetary knowledge associated to its efficiency forecast was nonetheless not audited.
Buyers within the firm embody oil-and-chemical conglomerate Sinochem Group.
Qinghai Salt Lake mentioned it expects to put up a web lack of between 43.2 billion yuan and 47.2 billion yuan ($6.26-6.84 billion) in 2019, in contrast with 3.45 billion yuan within the prior yr.
“The principle motive for the corporate’s loss is because of the chapter reorganization course of, (which) incurred estimated losses from asset disposals,” mentioned Qinghai Salt Lake in its assertion, including that the preliminary impression on income stands at…