Industrials Apr 09, 2021 09:25 PM (GMT+8) · EqualOcean
S.F. Express had earned a net profit of CNY 907 million in Q1 last year and has now announced that they expect a net loss in Q1 between CNY 900 million to 1.1 billion. Reasons for this enormous loss are mainly expansion and growth requirements that have now been moved to the current year due to last year's pandemic and the intense competition for orders, which currently result in a price war. The news has caused a 10% drop in their share price. This briefing is contributed by and first appeared on CIMK.

Source: CIMK