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Chongqing Iron and Steel Company

Controversies

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

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  1. 2016

    Massive losses, RMB 41.7 billion debt crisis and bankruptcy reorganization; RMB 2 billion earnings forecast deviation draws criticism

    After its environmental relocation, Chongqing Iron & Steel suffered from a mismatched product mix and poor management, posting huge losses for consecutive years and about RMB 41.7 billion in liabilities; its 2016 earnings forecast differed from actual losses by RMB 2.087 billion. The Shanghai Stock Exchange issued a circulated criticism to the company and then-chairman Liu Dawei and others; in 2017 it entered judicial reorganization, and the reorganization was completed by the end of the year after the introduction of the Siyuanhe Fund.

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