Though Profits Look Grim on Paper, Guolian has Rosy Prospects
According to Guolian’s October report, its net profit during the first three quarters is estimated to have plummeted by around 91% to 94% compared with the same period last year to only about 12,763,500 yuan (~$1.8 million USD) to 20,763,500 yuan (~$2.9 million USD). But this dive is far from alarming. As the company explains, it is mainly a result from last year’s share sales and this year’s greater investment.
Last year Guolian sold out its 30% shares in an investment company, which created ...
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