Hongbaoli's 2019 profits surge on reduced revenue

摘要

Nanjing, Jiangsu - China's system house Hongbaoli reported CNY 89m ($12.7m) net profit in 2019, up 207% from 2018. Revenue in 2019 dropped 3.4% to CNY2.4bn. The company's net profit less non-recurring items jumped 458% to CNY 96m, said its annual report in March.