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SHA:601118

7 stories mentioning SHA:601118Updated 3d ago

Every FINWIRES story that references SHA:601118, newest first.

Asia

Hainan Rubber Receives 47 Million Yuan Insurance, Crop Compensation

China Hainan Rubber Industry (SHA:601118) has received over 46.9 million yuan in insurance payouts and crop compensation following weather-related losses and land acquisitions, according to a Shanghai bourse filing on Friday.The company collected 45.9 million yuan in rubber revenue insurance compensation following drought conditions in April. The funds have been recognized as other income.Additionally, the company received 1.1 million yuan in crop compensation related to government land acquisition projects, including the S330 Lishi Line project, which has been recorded as non-operating income.

SHA:601118
Asia

China Hainan Rubber Gets 109 Million Yuan Land Compensation Grant

China Hainan Rubber Industry (SHA:601118) received government land acquisition and structural compensation subsidies worth 109.1 million yuan for land acquisition projects, according to a Shanghai bourse filing on Thursday.The projects under the non-operating income grant include the Wuzhishan Tropical Rainforest Aviary and Wildlife Park Project.The rubber company's shares fell 3% at the close.

SHA:601118
Asia

Fitch Upgrades China Hainan Rubber's Long-Term Issuer Default Rating to BBB+; Shares Fall 3%

Fitch Ratings upgraded China Hainan Rubber Industry Group's (SHA:601118) long-term issuer default rating to BBB+ from BBB following an upgrade on its parent company, the debt watcher said Thursday morning.The rating outlook is stable.Fitch said the upgrade reflects Hainan Rubber's high strategic support incentive due to its role as the core operating entity of parent Hainan State Farms Investment Holdings Group or HSF.Hainan Rubber also enjoys high operational support incentives due to its integration with the parent, with HSF utilizing Hainan Rubber's plantations for its tropical agriculture business.The rubber company manages 2.5 million hectares of rubber plantations worldwide and operates 61 factories with a capacity of 2.4 million tonnes, Fitch said.Shares fell 3% during afternoon trading on Thursday.

SHA:601118
Asia

Fitch Upgrades China Hainan Rubber's Rating to BBB+, Outlook Stable

Fitch has upgraded China Hainan Rubber Industry Group's (SHA:601118) long-term issuer default rating to BBB+ from BBB, according to an official statement on Wednesday.The ratings agency has kept the outlook stable.The change in ratings reflects an upgrade of the company's parent, Hainan State Farms Investment Holdings Group, to BBB+ from BBB with a stable outlook, Fitch said.The agency rates China Hainan Rubber under the "stronger parent/weak subsidiary" approach in the parent and subsidiary linkage rating criteria. Therefore, it has equalized Hirub's ratings with Hainan State Farms.

SHA:601118
Asia

Hainan Rubber Industry Elects Chair; Shares Up 4%

China Hainan Rubber Industry (SHA:601118) elected Yi Jinbo as chair, according to a Friday filing with the Shanghai bourse.Yi served as director of the inspection work department of the company's controlling shareholder, Hainan State Farms Investment Holdings.Shares of the rubber company rose 4% in recent trade.

SHA:601118
Asia

China Hainan Rubber Makes Adjustments in Renewed Rubber Insurance Deal

China Hainan Rubber Industry (SHA:601118) made adjustments in its renewed rubber insurance deal for the year, according to a Shanghai bourse filing on Tuesday.The Chinese rubber company will pay an additional insurance premium of 2.1 million yuan and its insurance premium rate will rise to 13.9% from 13.24%.The deal was signed with China Pacific Property Insurance, PICC Property and Casualty (HKG:2328), China Life Property & Casualty Insurance, and Sunshine Property Insurance.

HKG:2328SHA:601118
Asia

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

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.

SHA:601118

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