Modern Avenue Group Co., Ltd. reported earnings results for the first quarter ended March 31, 2023. For the first quarter, the company reported sales was CNY 90.49 million compared to CNY 70.07 million a year ago. Revenue was CNY 90.49 million compared to CNY 70.07 million a year ago.

Net loss was CNY 53.55 million compared to CNY 11.06 million a year ago. Basic loss per share from continuing operations was CNY 0.0752 compared to CNY 0.0155 a year ago. Diluted loss per share from continuing operations was CNY 0.0752 compared to CNY 0.0155 a year ago.