Written by The Edge
China Hongxing Sports says profit attributable to shareholders decreased by 62.4% to RMB38.8 million ($7.8 million) in first half of 2010 from RMB103.2 million in first half of 2009.
China Hongxing says revenue decreased by 5.5% to RMB1,008.2 million from RMB1,066.7 million due mainly to the weaker domestic market demand for our products and decrease in average selling prices.
Revenue from sports footwear increased 7.3% to RMB560.7 million from RMB522.3 million.
Revenue from sports apparel decreased 22.5% to RMB403.7 million from RMB520.8 million as major orders are scheduled for delivery only in third quarter of 2010.
Revenue from sports accessories increased 85.6% to RMB43.8 million from RMB23.6 million due to increased orders by distributors.
Dividend : RMB 1 cent
