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Profitable CSC Phoenix to resume trading in Shenzhen

Profitable CSC Phoenix to resume trading in Shenzhen
Changhang Phoenix (CSC Phoenix) has averted a delisting from the stock exchange as the Shenzhen bourse has approved of its application to resume trading, after a suspension since May 2014.

In a filing to the stock exchange on Tuesday, CSC Phoenix, the bulk shipping arm of Sinotrans & CSC Group, said it has been informed by Shenzhen Stock Exchange on 31 July that the company’s shares will resume trading on 18 August this year.

Since completing its restructuring in September 2014, CSC Phoenix posted a 2014 full year net profit of RMB4.31bn ($694.32m), as against a loss of RMB4.51bn in 2013.

In the first half ended 30 June 2015, the company also booked a gain of RMB108.69m.