Modern Avenue Group Co., Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2020
April 29, 2020 at 12:48 pm EDT
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Modern Avenue Group Co., Ltd. announced earnings results for the first quarter ended March 31, 2020. For the first quarter, the company announced sales was CNY 188.094 million compared to CNY 422.340 million a year ago. Operating loss was CNY 25.022 million compared to operating Income of CNY 41.799 million a year ago. Net loss was CNY 36.781 million compared to net income of CNY 37.559 million a year ago. Basic loss per share from continuing operations was CNY 0.0516 compared to basic earnings per share from continuing operations of CNY 0.0527 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.
MODERN AVENUE GROUP CO., LTD. 
