Modern Avenue Group Co., Ltd. Reports Earnings Results for the Half Year Ended June 30, 2022
August 28, 2022 at 03:35 am EDT
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Modern Avenue Group Co., Ltd. reported earnings results for the half year ended June 30, 2022. For the half year, the company reported sales was CNY 119.74 million compared to CNY 191.03 million a year ago. Revenue was CNY 122.25 million compared to CNY 193.93 million a year ago.
Net income was CNY 66.66 million compared to net loss of CNY 20.42 million a year ago. Basic earnings per share from continuing operations was CNY 0.0935 compared to basic loss per share from continuing operations of CNY 0.0287 a year ago. Diluted earnings per share from continuing operations was CNY 0.0935 compared to diluted loss per share from continuing operations of CNY 0.0287 a year ago.
Modern Avenue Group Co., Ltd., formerly Guangzhou CANUDILO Fashion & Accessories Co.,Ltd., is principally engaged in the research, development, design, brand marketing and retail management of men's clothing. The Company's men's clothing products consist of business series and vacation series, including suits, shirts, jackets, wind coats, pants, fur coats, cotton coats, leather products and accessories, among others. The Company is also involved in agent sale of garments, cases and leather products under international brands. Through its subsidiaries, the Company is also engaged in the research, development and manufacturing of mobile application products.