The restructuring Hong Kong and Shanghai-listed shipbuilderbooked a deficit of CNY 114m ($18.2m) for the three months to 31 March against a loss ofCNY 15.7m for the corresponding period of 2013.
However stripping out one off items the loss was reduced toCNY 54.8m from a deficit of CNY 64.5m in the first leg of last year.
Revenue jumped to CNY 1.73bn from CNY 1.44bn.
Trading in GSI’s shares is currently suspended pending anannouncement regarding further restructuring.
The company is contemplating an equity offeringahead of investing in more assets, it revealed in a statement last month.
In February GSI finalised a HKD 2.8bn ($364m) fundraiserbacked by state-controlled parent China State Shipbuilding Corporation (CSSC)to complete a takeover of Longxue Shipyard to allow it to construct largervessels.
