Sinoer Men's Wear Co., Ltd. Reports Earnings Results for the Half Year Ended June 30, 2020
August 27, 2020 at 10:36 am
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Sinoer Men's Wear Co., Ltd. announced earnings results for the half year ended June 30, 2020. For the half year, the company announced sales was CNY 671.176 million compared to CNY 1,699.665 million a year ago. Operating loss was CNY 66.065 million compared to operating Income of CNY 34.860 million a year ago. Net loss was CNY 35.144 million compared to net income of CNY 7.154 million a year ago. Basic loss per share from continuing operations was CNY 0.0646 compared to basic earnings per share from continuing operations of CNY 0.0132 a year ago.
Cedar Development Co Ltd, formerly Sinoer Men's Wear Co Ltd, is a China-based company mainly engaged in the apparel industry. The Company's main business includes apparel business, supply chain management business and cultural tourism business. The apparel business is mainly responsible for the sales of branded apparel. Its products include suits, shirts and other apparel. The supply chain management business provides comprehensive solutions including multiple comprehensive services such as information flow, logistics, and capital flow. The cultural tourism business is based on the resources of first-line tourism destinations, focusing on the development of cultural tourism towns, channel integration and global tourism development. The Company's products are sold to domestic and foreign markets.
CEDAR DEVELOPMENT CO.,LTD. 
