In Spite of Seemingly Satisfactory Statistics, Zhangzidao’s Report is Alarming
Zhangzidao’s performance report looks good on paper during the first half of the year without large quantities of dead or escaped scallops. Although its revenue has dived by 21.11% to 1.016 billion yuan compared with the same period last year, its net profit to shareholders of the parent company has skyrocketed by 269.46% to 39.9748 million yuan. Its gross profit ratio has also increased by nearly 2% to 17.34%.
Considering the coronavirus, such performance sounds pleasing, however, a closer look shows that things may not be so dazzling...
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