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China Railway Materials

Controversies

Controversies tied to this brand in public sources. A listing is not a finding of fault.

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  1. 2016

    16.8 Billion Yuan Bond Suspension Triggers SOE Debt Crisis

    On April 11, 2016, China Railway Materials Co., Ltd. suspended trading of nine outstanding debt financing instruments totaling 16.8 billion yuan due to severe operating losses and the need to demonstrate debt repayment arrangements, shocking the bond market and catching multiple bond funds in the crossfire. On April 29, SASAC arranged for China Chengtong to take over custody; thereafter, risks were resolved through asset revitalization, debt restructuring and debt-to-equity swaps. In January 2019, all 16.8 billion yuan in bonds were fully repaid, and the company was later restructured into China Logistics Group.

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