Red Avenue's sales and profit decline in first nine months
2020/10/29 20:54:37Editor：AmandaFont Size：Big Medium Small
Red Avenue released its third quarter report of 2020 on October 23. The report showed that the company's sales revenue posted declining in the past nine months, but net profit realized slightly growth.
Statistics showed that Red Avenue realized 1.5 billion yuan of sales revenue in the past three quarters, and 329 million yuan of net profit belonging to shareholders, yearly increasing 0.29%.
Suffering from exploration of Xiangshui Chemical Park in Jiangsu Province, the company has to shut off its subsidiary there, which may create 78 million yuan of net loss.
Founded in 1999, Red Avenue is an important chemical materials producer for Chinese tire manufactures.
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