20th Jun 2022 15:34
Gowin New Energy Group Ltd - China-based lighting products retailer also focused on tea business - Pretax loss in 2021 widens to CNY3.4 million, about GBP415,000, from CNY2.2 million loss in 2020.
Administrative expenses broadly flat year-on-year at CNY3.9 million. Fair value gain on investments drop to CNY535,000 from CNY1.6 million in 2020.
Does not generate revenue in either period.
Notes LED lighting sector hit by Covid, but is still seeking "opportunities which are profitable". Invested in Taiwan Thick-Film Industries Corp, which is listed on the Taipei Stock Exchange.
Also working on launching a new tea trading business, focused on the collection, distribution and sale of Chinese Pu-erh tea and Taiwan high-mountain tea.
"The initial stage of the business was completed, including the establishment of its new subsidiary company and the initial fundraising for the business; however, the planned launch was delayed due to the Covid-19 restrictions in both China and Taiwan," it adds.
Current stock price: 0.075 pence
12-month change: down from 0.40p
By Paul McGowan; [email protected]
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