China's Far East Smarter Energy (FESE) experienced a -2% y/y decline in consolidated net sales to RMB 17.1 billion ($2.48 billion) for FY 2019, ending December 31, 2019. Operating profit fell -18% y/y to RMB 212 million ($31 million) and net profit plunged -70% y/y to RMB 45 million ($6 million). Operating and profit margin fell to 1.2% and 0.3% respectively in FY 2019 from 1.5% and 0.9%, respectively in FY 2018.
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