New Sea Union has announced its plan to deregister its Suzhou subsidiary in a way to reuse resources, reduce management and running cost and improve management efficiency since it has no actual business operation.
 
By 30th November 2012, the Suzhou subsidiary has a total asset of RMB 40.4123m, equating to net assets, with no business revenue and a deficit of RMB 2.2003m, compared to a deficit of RMB 2.2937m in 2011.
 
New Sea Union said the Suzhou subsidiary has made no contribution to the revenue with no business operation. Thus it will not have a big impact on the company’s overall business and profitability by deregistering it.