Retailing, Franchising, and Consumerism Business Intelligence in China

Want Want Reported Operating Revenue Of Over CNY20 Billion In 2019 Financial Year

Want Want recently published its 2019 annual financial report ended March 31, 2020, stating that its net profit for the year was CNY3.65 billion, a year-on-year increase of 5%; its gross margin increased by 2.6 percentage points to 48%; and its core operating profit rate increased by 2.1 percentage points to 21.8%.

By the end of March 2020, the company had CNY17.2 billion cash reserve and its cash flow was abundant.

Though Want Want's operating revenue maintained a good growth trend in the first three quarters, the company faced negative effects in the fourth quarter due to COVID-19. For the 2019 financial year, the company's annual operating revenue was CNY20.09 billion, a year-on-year decrease of 3%. However, the company said that with the continuous improvement of epidemic fighting, its sales achieved double-digit increase in April and May.

According to Want Want, the company realized full production recovery in March and its sales also recovered in April and May.

Public files show that Want Want was listed on Hong Kong Stock Exchange on March 26, 2008. The company is mainly engaged in the manufacturing and distribution and food and beverage.

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