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China’s leading liquor maker reports lower revenue, profits amid COVID-19

Abstract : China's leading liquor maker Sichuan Swellfun Co. Ltd. Monday reported a notable decline in revenue and net profits in the first half of the year (H1).

BEIJING, July 27 (Xinhua) — China’s leading liquor maker Sichuan Swellfun Co. Ltd. Monday reported a notable decline in revenue and net profits in the first half of the year (H1).

The company’s operating revenue sank 52.41 percent year on year to 804 million yuan (114.8 million U.S. dollars) in H1, while net profits attributable to shareholders plunged 69.64 percent to 103 million yuan, according to a statement filed by the firm with the Shanghai Stock Exchange.

The COVID-19 epidemic has led to fewer social gatherings, drastically reducing alcohol consumption in the January-June period, said the statement.

Shares of the Shanghai-listed liquor maker gained 1.48 percent to close at 66.98 yuan Monday. Enditem

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Source: China’s leading liquor maker reports lower revenue, profits amid COVID-19

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