The state-controlled China’s CSC Phoenix has returned to profit and net earnings were CNY 186.4m ($30.29m) to 30 June, compared to a loss of CNY 343.6m in the same period of 2013.
The Shenzhen-listed subsidiary of Beijing-based Sinotrans & CSC suspended its stock in December as it fought to survive a court restructuring.
Banks have taken legal action against it and ships have been sold off.