Modern Avenue Group Co., Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2022
April 27, 2022 at 09:45 am EDT
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Modern Avenue Group Co., Ltd. reported earnings results for the first quarter ended March 31, 2022. For the first quarter, the company reported sales was CNY 70.07 million compared to CNY 117.56 million a year ago. Revenue was CNY 70.07 million compared to CNY 117.56 million a year ago. Net loss was CNY 11.06 million compared to CNY 16.15 million a year ago. Basic loss per share from continuing operations was CNY 0.0155 compared to CNY 0.0227 a year ago. Diluted loss per share from continuing operations was CNY 0.0155 compared to CNY 0.0227 a year ago.
Modern Avenue Group Co., Ltd., formerly Guangzhou CANUDILO Fashion & Accessories Co.,Ltd., is principally engaged in the research, development, design, brand marketing and retail management of men's clothing. The Company's men's clothing products consist of business series and vacation series, including suits, shirts, jackets, wind coats, pants, fur coats, cotton coats, leather products and accessories, among others. The Company is also involved in agent sale of garments, cases and leather products under international brands. Through its subsidiaries, the Company is also engaged in the research, development and manufacturing of mobile application products.