[ET Net News Agency, 16 March 2022] China Shenghai Group Limited (01676) said the group
is expected to record a loss of not less than RMB60 million for the year ended 31 December
2021, as compared to the loss of approximately RMB31 million recorded for the year ended
31 December 2020.
The loss was mainly attributable to the decrease in demand from the customers of the
group for its products as a result of the outbreak of the 2019 coronavirus disease, which
resulted in the decrease in sales volume and profit margin of the products of the group.
(RC)