Shanghai and Hong Kong-listed Cosco posted a reversal of CNY 2.00bn ($325m) up until the end of March, deeper than the CNY 1.67bn analysts has projected.
Jon Windham of Barclays Capital estimates the sale of a logistics company to its parent, which was approved on 26 April, will be worth CNY 2.00bn.
This will wipe out the first quarter loss, although it will appear in the company’s second quarter accounts.
However,
