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Red Avenue reports sales and net declined in H1' 2020

Red Avenue New Materials Group recently released its half year report of 2020.

Statistics showed that Red Avenue New Materials Group's sales revenue declined 16.28% to 943 million yuan, and net profit  belonging to shareholders declined 22.81% to 180 million yuan.

The company said that in the first half year, it focused on MSDS special rubber acid market, and realized breakthrough on new production sales. At the same time, its developed electronic materials and degradable materials as growth points.

Owning 10.16% of shares in Zhongce Rubber, Red Avenue has 124 million yuan of related transaction in the first half year.

It is predicted that related transaction would reach 320 million yuan to 400 million yuan in 2020.