Catic International Holdings 'turned around' last year with the help of a HK$10 million cash injection by parent China National Aero-Technology Import and Export Corp (Catic), according to the red chip.
The company also said at an extraordinary general meeting yesterday that profit from a stake in a Hangzhou thermal power plant operator also helped offset the loss in the year.
It will announce last year's results in April.
Catic International has been trying to narrow its loss, which amounted to about HK$145.34 million in 1998. The company trimmed the loss to about HK$39.77 million in 1999.
At the meeting yesterday, shareholders agreed that Catic International should raise its stake in Hangzhou Sealand Electric Power Plant from 31 per cent to 70 per cent.
Catic International, formerly Far East Aluminium Holdings, is an SAR-based backdoor listing vehicle of Catic.
The company said the investment in the thermal power operator could serve to offset part of the operating loss of its curtain wall and aluminium works contracting business.