Gongniu Group, one of China’s largest electrical and electronic products manufacturers, made 12.4 billion yuan (US$1.9 billion) in revenue last year, up 23.2 percent. A profit of 2.8 billion yuan was up 20.2 percent. However, the gross profit margin on major products fell 3.2 percent to 36.8 percent. Gongniu is trading at about half its price at the beginning of 2021.
Last year, Gongniu was fined almost 300 million yuan, 3 percent of its sales in China, for violating the anti-monopoly law.
