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Painting worth 270 million sold to cover the tv-company losses

Over 70 of 3 550 listed companies have warned that their net income can drop by more than hundred per cent. A further ten have announced that they expect losses of over 1 billion yuan, 1.3 billion, reports the South China Morning Post in Hong kong.

A tv-company in the province of Hunan, which operates one of the country's most popular channels, sold in the last week an oil painting from 1940 for 209 million yuan, the equivalent of 270 million, its largest shareholder.

in the last nine months, losses of 130 million yuan and avoiding the risk to be stopped from the stock exchange in Shenzhen.

the company is far from alone in selling out their assets in times when the private enterprises in China are being squeezed by the effects of the trade wars with the united states. The year 2018 is described as one of the worst in the chinese capital market.

at Least 33 publicly listed companies have been forced to sell assets to get into the money in the cashier.

Among them, the airline Hainan Airlines, China's fourth largest, which last week sold two aircraft for a close associate in the tourism industry 1 billion yuan, to back up a bad performance.

announced at least three investment banks and brokerage firm in the southwest, southern and central China that they are planning the sale of real estate for amounts between the equivalent of 20 million to over 1 billion Swedish kronor.

– A listed company has the right to dispose of their assets and the hair of his annual report. It becomes complex only when the deal is made with a related party, as the question often arises if the agreement was made at a fair price, " says Guo Shiliang, a ekonomikrönikör in the city of Guangzhou to the South China Morning Post.

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