Xinwang Foodstuffs, a maker of cooking oil, saw its stock down 3.4% today after the company released their 2021 financial information showing revenue was up by 10% but net profits dropped by 39%.
The company noted that rising prices of raw materials continue to squeeze their margins and the prices of their products have not risen enough to offset this.
This pattern is similar to Arowana, the market share leader in the cooking oil space in China, which reported 2021 numbers earlier this week.
The...