China Xiniya Fashion H1 Loss Narrows; Revenues Surge - Quick Facts

(RTTNews) - China Xiniya Fashion Ltd. (XNY), a provider of men's business casual apparel in China, reported Tuesday that its total loss for the first half of 2017 was 51.5 million Chinese yuan, compared to loss of 129.2 million yuan last year. Loss per ADS was $0.53, compared to loss per ADS of $1.37 a year ago.

Gross loss was 17.8 million yuan, compared to gross loss of 85.6 million yuan last year. The prior year's higher loss reflected inventory buyback in the first half of 2016.

Revenue surged to 120.3 million yuan from prior year's 15.1 million yuan.

Excluding the inventory buyback in the first half of 2016, the company delivered approximately 1.232 million units to it's customers during the first half of 2017, compared to 1.320 million a year ago.