Shiner International Inc. (BEST) said its net income for fiscal 2011 fell significantly to $1.7 million from $4.2 million, mainly due to increased labor costs, R&D expenses, depreciation of the new property and no other income from a former landlord offset by an increase in subsidy income. Earnings per share for the year were $0.06, versus $0.17 a year ago.
Shiner's revenue for the year rose 29.4% to $75.3 million from $58.2 million in 2010, helped primarily by an increase in domestic product volume.
Qingtao Xing, Shiner's President and CEO, stated, "In 2012, we will continue to develop new market and expand our market share both in China and abroad with our efforts. By investing in our R&D's innovation and the high-end facility, we expect to achieve better operational performance and financial prospect in 2012."
For comments and feedback contact: editorial@rttnews.com
Business News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.