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KEY STAT | Wuhan-based snack seller Bestore Co reported profit drop due to the COVID-19

The company went public in February 2020.

Bestore Co, (SHA: 603719, known as Liangpin Shop in Chinese) released its 2020 H1 financial report on Thursday and reported an operating income of RMB 3.61 billion (USD 520 million) in the first half of the year, a year-on-year growth of 3%.

The net profit attributable to shareholders of Bestore Co was RMB 161 million (USD 23 million), down 17.6% year-on-year, said the company’s earnings report.

The company’s revenue was hurt as COVID-19 outbreak closed down offline shops, said Bestore, while the current income growth mainly came from online channels.

Wuhan-based snack brand Bestore Co was the first company in China to go public on the Shanghai Stock Exchange (SSE) with an online listing ceremony in February this year, as a result of the COVID-19 outbreak, KrASIA reported.

More on this please read: Avoiding coronavirus, Wuhan food company becomes first to go public with online listing ceremony

This article is part of KrASIA’s “Key Stat” series, where KrASIA picks and presents the most significant figures of the day’s technology and business world.