Red Sun: Product Prices Hit ‘Record Low’ in First Half ’16
21 July 2016 Nanjing Red Sun Co. reported that its first-half 2016 results were impacted by overcapacity, lack of market demand at home and abroad and fierce competition.
Red Sun’s main products’ price “suffered a record-low” and that the low prices persist. The company estimated its an operation revenue of 2.174 billion yuan in the first half year of 2016, down 34.37% and an operation profit of 29 million yuan, drop 83.76%, a net profit attributable to listed company shareholder of 57 million yuan, down 67.39% YoY.
Source: CCPIA
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