March 23, 2020 / 3:55 PM / 6 days ago

BRIEF-China Shenghai Food Holdings Posts FY Gross Profit of RMB103.8 Mln

March 23 (Reuters) - China Shenghai Food Holdings Company Ltd:

* FY REVENUE DECREASED BY ABOUT 29.2% TO ABOUT RMB472.9 MILLION

* FY GROSS PROFIT FELL BY 38.6% TO ABOUT RMB103.8 MILLION

* COVID-19 HAS CERTAIN IMPACTS ON BUSINESS OPERATION & CUSTOMER DEMAND FOR CO’S PRODUCTS HAS FURTHER DECLINED

* CO HAS SUSPENDED ALL PRODUCT PROMOTION ACTIVITIES, WHICH WILL DIRECTLY AFFECT TURNOVER AND PERFORMANCE

* GROUP IS NO LONGER PURSUING PURCHASE OF LAND IN MAINLAND CHINA DUE TO ECONOMIC UNCERTAINTY AHEAD Source text for Eikon: Further company coverage:

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