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May 26 (Reuters) - Chongqing Iron & Steel Co Ltd
* has been confronted with an austere situation in both production and operation, facing severe financial strain
* as at 31 December 2016, equity attributable to owners of company was a loss of rmb107 million
* had in-depth communications with major creditors in respect of debt repayment scheme
* court is currently reviewing application for reorganisation of co
* "company is still exposed to risk of being declared bankruptcy by court as a result of failure of reorganisation"
* there is uncertainty as to whether or not co can enter into reorganisation procedure Source text for Eikon: Further company coverage: