Shenzhen-listed Zhuhai Zhongfu Enterprises has warned it won't be able to fully repay a 590m yuan ($95m) bond, which comes due on May 28.
The company, which makes bottles for Coca-Cola Co and PepsiCo in China, said it can only repay 148m ($23.9m) of the principal amount, but says it plans to pay all the 31.15m yuan of interest, the company said in a statement to the Shenzhen Stock Exchange on Monday, Bloomberg reported.
Trading in the bottler's shares were suspended at the end of April, but the stock had still risen 125.7 per cent in the year to that point. In other words, it had been outpacing its own benchmark up until that point, despite the looming likelihood of defaulting on its debt. The Shenzhen Composite has doubled in value this year.