Financial watchdogs in Shanghai have suspended domestic A shares in Chinese garment maker Hubei Xingfu Industry Co after the company posted its third full-year loss in a row.
Authorities have told the company, which has been hit hard by sliding sales amid fierce competition, it has six months to revive its fortunes or it will be struck off the Shanghai stock exchange
Xingfu posted a net loss of 24.15 million yuan ($2.9. for 2001, far less than the 331.37 million yuan it lost in 2000 and the 65.88 million yuan it lost in the year before.
Date:4/22/2002
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