Since its mid-term loss narrowed to 71.885 million, it said it was cautiously optimistic about the performance of its core department store business in the coming year

Financial News

Written by: Kuang Yueting

2020-10-29 19:41

Last update date: 2020-10-29 19:41

Sincere (0244) announced its interim results with a loss of 71.885 million yuan, which was narrower than the loss of 81.948 million yuan in the same period of the previous financial year; revenue plummeted 40.8% year-on-year to 81.756 million yuan.

During the period, the company received a rent reduction of 7.296 million yuan, as well as 4.215 million yuan and 1.742 million yuan in subsidies from the "Ensure Employment" program.

Xian Shi said that with the relatively low level of confirmed cases of new coronary pneumonia and the government's relaxation of the social distancing measures previously promulgated, the flow of shoppers has gradually returned to normal, and the epidemic has become the new normal and will not subside in the short term. As a result, the department store business is facing challenges. The company is cautiously optimistic about the performance of its core department store business in the coming year and will carefully deploy its business plans.

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Sincere retail market retail