Published on Aug 29, 2013
5:49 PM
By Dennis Chan
Qingmei Group Holdings has narrowed its fourth quarter net loss to 22.1 million yuan from 40.8 million (S$4.6 million) in the same period last year.
Revenue for the three months to June 30 slumped by 47.9 per cent to 35.9 million yuan.
This was due mainly to the decrease of 35.1 per cent in sales volume from 3.7 million pairs of shoe soles to 2.4 million pairs.
The drop in sale orders was due to the following reasons:
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