RTTNews | Sep 29, 2020 08:15AM EDT

08:15 Tuesday, September 29, 2020 (RTTNews.com) - China Ceramics Co., Ltd. (CCCL), a Chinese manufacturer of ceramic tiles, reported that its net loss for the six months ended June 30, 2020 narrowed to RMB 111.5 million or US$15.8 million, from last year's RMB 193.2 million or US$28.5 million, due to the decrease in bad debt expense, which was partially offset by a decrease in gross profit.

Loss per share for the period were RMB 40.82 or US$5.77 compared to loss per share of RMB 96.69 or US$14.25 for the same period of 2019.

Revenue for the period was RMB 39.8 million or US$5.6 million, a 77.6% decrease from RMB 177.4 million or US$ 26.2 million for the same period of 2019. The year-over-year decrease in revenue was due to the 73.4% decrease in its sales volume to 1.8 million square meters of ceramic tiles for the six months of 2020 compared to 6.6 million square meters of ceramic tiles for the same period of 2019, with the decrease attributable to reduced sales orders of products due to the COVID-19 pandemic.

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