Preview - Please log in to view full article.

Article Date: June 2022
Word Count: 366

China Dongxiang Sees Red Ink as Sales Slip


The Chinese sportswear maker posted a loss of RMB 1,746,944,000 ($275.1 mm) against last year’s RMB 1,810,545,000 in income on revenues down 3% to RMB 1,915,735,000 ($301.7 mm) from RMB 1,969,607,000 for the fiscal year ended Mar. 31. The bottom line was pulled down by eroding margins and a 19% drop in net asset value of investments to RMB 8,490 million as an RMB 1,468 million loss lapped the prior year’s RMB 2,095 million gain that drove a fivefold net income increase. Distribution and administrative expenses rose 5%, mostly on higher employee salary and benefit costs from new personnel, while ... Log in to view full article.

 


Already a subscriber?

User Name:  

Password:  


Not yet a subscriber?

Try SGI for a month FREE. You’ll get our daily news feed, weekly newsletter, and access to the last two months of SGI articles.

Start a new subscription to SGI, or order any of our other products.