Yue Yuen’s revenues from footwear manufacturing fell by 27 percent in terms of U.S. dollars in 2020, including a drop of 16 percent in December. The group’s retail subsidiary, Pou Sheng, improved its sales by 1 percent thanks to a strong finish of the year, with sales up by 11 percent in December. However, part of the gain at Pou Sheng came from the weakened dollar. In terms of local renminbi, its sales were down by 6 percent for the year. Overall, Yue Yuen posted a 16 percent drop in total revenues to $8,445.4 million in 2020. Another Chinese shoe manufacturer, Feng Tay, reported a drop in volume of 10.2 percent for the year to 109.9 million pairs.