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Hainan Rubber Industry Receives 75-Million-Yuan Insurance Payout for Cold Damage

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-- China Hainan Rubber Industry (SHA:601118) received 74.8 million yuan in insurance compensation for cold damage that affected its rubber trees in January, according to a Thursday filing with the Shanghai bourse.

The payout includes 66.7 million yuan under the full cost insurance policy that will reduce agricultural production costs and 8.1 million yuan under the materialized cost insurance policy that will reduce productive biological assets.

The final accounting treatment will depend on audit confirmation.

Shares of the rubber company were down 1% in recent trade.

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