China Shipping Development Co (CSDC) has returned to profit in the first quarter as costs dropped.
The financial leasing arm of the CoscoCS group said net earnings to 31 March were CNY 347.51m ($50.39m), compared to a CNY 859.47m loss in 2016.
Revenue fell to CNY 3.73bn from CNY 5.31bn, but total costs were CNY 3.88bn, against CNY 6.29bn a year ago.
