Roshow Technology (Roshow) reported a dramatic drop in profits earned in the first half of 2014 compared to the same period in 2013 on June 29, 2014.
For the first half of last year, company profits reached RMB 31.37 million. This year however, the company estimated a decrease of 78.33-84.70 percent to RMB 4.8 – 6.8 million (US $770,000-1,096,000). The company cited economic influences and strong market competition as the leading cause behind substantial profit decline.
Additionally, Roshow also announced that the company’s production capacity expansion financing project is still underway, and reported continual cost increases in manpower and management causing net profits to drop.
