On May 7, Grace Vineyard (HK08146) released its 2021 first quarter financial report.
The report showed that Grace Vineyard’s gross profit in the first three months of 2021 was 16.724 million yuan, an increase of 445% year-on-year; total profit before tax was 816.8 10,000 yuan, an increase of 457% year-on-year.
Thanks to China’s effective control of the epidemic and the good layout in 2020, Grace Vineyard has made a great success at the start of 2021. The company has turned around to profit and achieved overall growth year-on-year.
Financial report data shows that the total profit before tax of the Grace Vineyard in the first three months of 2021 was 8.168 million yuan, compared with a loss of 2.287 million yuan in the same period in 2020, a significant improvement with an increase of 457% year-on-year. This good performance is closely related to the conservative marketing strategy adopted by Grace Vineyard in the first three quarters when facing the epidemic in 2020. On the other hand, it benefits from the good layout of Grace Vineyard last year, which makes the company seize the opportunity to catch up when the situation picks up.