Honghua, which has been in the red, is confident that its state-owned shareholder will be to give the company a new lease of life and open doors in the domestic Chinese market, which had previously shunned private sector suppliers. Photo: AFP

How China Aerospace will turn struggling Honghua’s fortune around

Honghua is banking on its new state-owned giant shareholder to bail it out of losses through clinching new orders from Chinese oil giants and financial support from Chinese banks

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Honghua, which has been in the red, is confident that its state-owned shareholder will be to give the company a new lease of life and open doors in the domestic Chinese market, which had previously shunned private sector suppliers. Photo: AFP
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