Fitness Equipment Factory Mingyue International (4151-TW) announced today (9) that as of the end of last year, the accumulated loss amounted to 387 million yuan, exceeding one-half of the paid-in capital, so it plans to withdraw the registration case.
Mingyue said that the company is engaged in the design, development, manufacture and sales of fitness and sports equipment. In order to respond to the industrial boom cycle, consider the development of new products in the future, as well as the overall business planning and business strategy, the board of directors held today to approve the proposed cancellation of the case.
Affected by the soaring prices of raw materials and freight, Mingyue’s profit was impacted. Last year, Mingyue’s self-closing financial statements accumulated a loss of 387 million yuan, more than half of the paid-in capital. Ming Yao emphasized that it has adjusted product prices and integrated the supply chain, and at the same time deployed new products and new operating models, moving towards the direction of stable expansion of operating scale.
Mingyue’s own fitness brand, LifeSpan, mainly focuses on the household and light commercial markets, and has entered the office health space industry. In addition, in order to enhance the added value of products, it has also launched the CYCLE BOXER series, the Recumbent Cycle Boxer series and the Trio three-person fitness riding table, etc. It is favored by large domestic medical institutions.
Mingyue’s March revenue was 133 million yuan, a monthly decrease of 34.8% and an annual decrease of 59.5%; the first quarter revenue was 419 million yuan, an annual decrease of 53.1%.
