The company reported a net deficit of CNY 4.51bn($725.96m) for 2013, against CNY 1.88bn in 2012.

The Shenzhen-listed subsidiary ofBeijing-based Sinotrans & CSC suspended its stock in December as it foughtto survive a court restructuring.

This third consecutive year of losses willprobably lead to its losing its listed status, as happened last week to sister company NanjingTanker.

But the company says it expects a netprofit for the first quarter of 2014 of between CNY 12m and CNY 22m, compared to a netloss of CNY 190.1m