src="/files/fa/news/es/Thumbnails/ce36a983-bf6f-420e-a9c9-ca03726ebed1_260_199.jpg' class='img_convert' title='CSSC Sinks into the Red for Q1' alt='CSSC Sinks into the Red for Q1'>
According to MANA, The state-owned shipbuilder saw its first quarter results sank into the red with a net loss of RMB71.94m ($10.43m) as against the profit of RMB115.72m in the previous corresponding period.
The group suffered a first quarter operating loss of RMB142.41m as against the operating income of RMB105.52m in the year-ago period.
The quarterly revenue went down by 29.8% year-on-year to RMB4.11bn.
The group further forecast a loss for the first half of this year due to the sluggish market conditions and tight cash flow.