CFHI turns corner after tough times

Shanghai-listed China First Heavy Industries announced that its sales reached 990 million yuan ($143.66 million) in the first two months of this year, which may help the company avoid the risk of delisting.

CFHI is China's leading heavy machinery producer whose products include nuclear equipment, heavy vessels and heavy forging equipment.

But the past two years have been tough as the company has had to contend with a sluggish market and poor management. Its revenue kept declining over the past two years and it was warned by the China Securities Regulatory Commission that it was at risk of being delisted.