Capital, Earnings & M&A
Revenue Down 75.14%! Why Is Baorun Not So 'Moist' Anymore?
On August 1, Baorun Co., Ltd. released its 2016 semi-annual report. The report shows that Baorun's revenue in the first half of the year was 420 million yuan, down 75.14% from 1.688 billion yuan in the same period last year; net profit fell from 613 million yuan to -145 million yuan, a year-on-year decrease of 123.64%. The company attributed the sharp decline to a significant drop in its pre-mixed cocktail business in the first half of 2016, which was dragged down by its once-popular RIO cocktail brand.
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