Sales decreased more dramatically than in the previous quarter, when they experienced their first revenue reduction since going public, falling 20% year over year to 70.2 billion yuan ($10.3 billion). Analyst expectations were missed as net income dropped 67% to 2.08 billion yuan. Due to the effects of lockdowns in Shanghai and other cities during the first half of the year, China’s consumption has had a difficult time recovering. Data released this week indicated China’s GDP unexpectedly contracted in July, suggesting the second-largest economy in the world is still feeling the effects of Covid curbs that stunted development in the…