(Yicai Global) Nov. 6 -- Tunghsu Optoelectronic Technology’s shares slid after the world’s fourth-largest glass substrate maker failed to pay interest on its debt for the second time in just over two weeks.

Tunghsu [SHE:000413] fell as much as 5.1 percent before ending the day 4.8 percent lower at CNY2.79 (43 US cents). The stock has lost 83 percent of its value since peaking in September 2016 at CNY16.64.

The supplier of electroluminescent display materials missed a CNY16 million (USD2.44 million) interest payment yesterday on a CNY200 million (USD30.5 million) loan, the Beijing-based company said in a statement late yesterday. It had already failed to make good on two interest payments totaling CNY66 million on Nov. 17.

Tunghsu attributed its delinquency to cash constraints, again without providing details, but pledged to find a way to protect its creditors as much as possible. But the company has made little headway in fixing its financial woes since its first interest payment default last month.

The firm booked a CNY1.2 billion (USD183 million) net loss for the nine months ended Sept. 30 after revenue slumped 65.5 percent to CNY4.58 billion.

Editor: Ben Armour, Xiao Yi