Auditors at BDO have cast doubt on JES International Holdings' ability to continue.
The accounting firm blamed its reservations on groupwide liabilities that exceeded assets by CNY 590m ($89.9m), refund guarantees that the Singapore-listed shipbuilder owes and the restructuring of its key shipyard subsidiary.
"The presence of these and other conditions ... indicate the existence of material uncertainties that may cast significant doubt about the group's and the company's ability to continue as going concern," BDO said.
JES
