Brief: China Shenghai Food Holdings Posts FY Gross Profit of RMB103.8 Mln

Gaodi Holdings

23/03/2020 15:53

March 23 (Reuters) - China Shenghai Food Holdings Company
Ltd  1676.HK :
    * FY REVENUE DECREASED BY ABOUT 29.2% TO ABOUT RMB472.9
MILLION
    * FY GROSS PROFIT FELL BY 38.6% TO ABOUT RMB103.8 MILLION
    * COVID-19 HAS CERTAIN IMPACTS ON BUSINESS OPERATION &
CUSTOMER
DEMAND FOR CO'S PRODUCTS HAS FURTHER DECLINED
    * CO HAS SUSPENDED ALL PRODUCT PROMOTION ACTIVITIES, WHICH
WILL
DIRECTLY AFFECT TURNOVER AND PERFORMANCE
    * GROUP IS NO LONGER PURSUING PURCHASE OF LAND IN MAINLAND
CHINA
DUE TO ECONOMIC UNCERTAINTY AHEAD

Source text for Eikon:  urn:newsml:reuters.com:*:nHKS9g8Qb3
Further company coverage:  1676.HK 

 ((Reuters.Briefs@thomsonreuters.com;))