Sinoer Men's Wear Co., Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2020
April 27, 2020 at 04:41 pm IST
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Sinoer Men's Wear Co., Ltd. announced earnings results for the first quarter ended March 31, 2020. For the first quarter, the company announced sales was CNY 278.610 million compared to CNY 845.592 million a year ago. Operating loss was CNY 32.501 million compared to operating Income of CNY 5.399 million a year ago. Net loss was CNY 19.134 million compared to net income of CNY 1.880 million a year ago. Basic loss per share from continuing operations was CNY 0.0352 compared to basic earnings per share from continuing operations of CNY 0.0035 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. 
