China’s Huarong posts $21.4 billion loss as leverage hit 1,333 times

August 30, 2021 2:33 PM

BEIJING (BLOOMBERG) – China Huarong Asset Management Co.’s long-delayed 2020 results showed a record loss, with leverage hitting 1,333 times and capital buffers far short of the regulatory minimum, emphasizing the difficult task ahead for the bad-debt manager that recently secured a government bailout.

Source : http://www.straitstimes.com/business/companies-markets/chinas-huarong-posts-214-billion-loss-as-leverage-hit-1333-times