Shenzhen International Holdings has revealed a $447.08 million net loss for the year to December 31, including one-off losses of $391.63 million.
The company - with operations ranging from glass, optical products to ceramic tiles and property investment - posted a net profit of $26.08 million the previous year.
Shenzhen International's exceptional losses included a $160.60 million write-down in the value of long-term investments and a $135.98 million write-down in goodwill.
It also wrote-down the value of certain properties held for sale by $28.23 million, bad and doubtful debts of $18.09 million, and provisions for the diminution in values of associated companies by $48.71 million.
Chairman Chen Xiaoxiong described the year as 'difficult' for the firm.
Shenzhen International made an operating loss before exceptionals of $17.04 million.
