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Article: SHAANXI INT'L TRUST CONTINUES LIQUIDATION
- Article from:
- AsiaInfo Services
- Article date:
- August 3, 2009
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AsiaInfo Services
08-03-2009
Shaanxi Int'l Trust Continues Liquidation
XI'AN, Aug 03, 2009 (SinoCast Daily Business Beat via COMTEX) -- Shaanxi International Trust Co., Ltd. (SZSE: 000563) forecasted that the net profit it captured in the first half of 2009 would reach CNY 16 million, down 59.78 percent year on year.
The sharp profit fall should be mainly attributed to dropped real estate sales rooted from its industrial investment asset liquidation. As a trust firm, it gains not more than 20 percent of its revenue from trust business but up to 80 percent from real estate business last year.
In order to let it focus on trust, the China Banking Regulatory Commission (CBRC), the top Chinese ...