The figure to 30 September was revealed by parent China Rongsheng Heavy Industries Group, without giving last year's result.

The operating loss was CNY 2.77bn, while liabilities stood at CNY 31.35bn, compared to assets of CNY 33.55bn.

Revenue was only CNY 278m.

The yard blamed low prices accepted for orders contracted in depressed market conditions and the diminishing profitability of the conventional shipbuilding business.

It