China Putian Food Reports Major Losses in 2022

China Putian Food Holding Ltd. (HK:1699) has released an update.

China Putian Food Holding Ltd. reported a significant decline in its financial performance for 2022, with revenue dropping 20.6% to approximately RMB499.3 million and gross profit plummeting 72% to about RMB19.8 million. The company faced a staggering loss of around RMB1,039.7 million, more than tripling the previous year’s loss. Challenges such as impaired assets and increased finance costs contributed to this downturn.

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