Yongmao Holdings, a tower crane manufacturer, saw its 2Q earnings plummet 82% to RMB2.2 million ($490,000).
Revenue fell 41.9% to RMB127.6 million.
The poorer performance came on the back of weak market demand across all geographical segments, especially in the PRC market where sales went down 65.2% amid a property slump and a general slowdown in investment growth.
Gross profit margin increased to 31.4% in Q2 from 31% last year due to changes in product mix with higher percentage sales for some of its higher margin tower cranes.
Yongmao last traded at nine cents on Oct 27.
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Revenue fell 41.9% to RMB127.6 million.
The poorer performance came on the back of weak market demand across all geographical segments, especially in the PRC market where sales went down 65.2% amid a property slump and a general slowdown in investment growth.
Gross profit margin increased to 31.4% in Q2 from 31% last year due to changes in product mix with higher percentage sales for some of its higher margin tower cranes.
Yongmao last traded at nine cents on Oct 27.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
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