STRUCTURALLY LOSS-MAKING INTERNATIONAL JOINT VENTURE.

Situation

Chinese joint venture with recurring losses.

Strategic misalignment between shareholders.

Limited visibility on underlying performance by market.

Financial tensions and repeated recapitalizations.

Risk of continued capital destruction.

Decisions and mechanisms implemented

Comprehensive strategic review of available options: turnaround, restructuring, or exit.

Clarification of responsibilities between partners.

Detailed financial analysis by entity and business line.

Establishment of a formalized decision-making framework.

Structured negotiation between shareholders.

Outcomes

Orderly decision safeguarding the interests of all parties.

Financial losses contained.

Capital preserved and risk exposure reduced.

Strategic trajectory clarified.