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NanHua Bio-medicine Q1 loss widens 22.8% YOY

NanHua Bio-medicine Co. Ltd. said its first-quarter normalized net income was a loss of 2.9 million yuan, compared with a loss of 2.4 million yuan in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin climbed to negative 205.0% from negative 234.3% in the year-earlier period.

Total revenue increased 40.3% year over year to 1.4 million yuan from 1.0 million yuan, and total operating expenses rose 18.3% on an annual basis to 5.6 million yuan from 4.7 million yuan.

Reported net income totaled a loss of 4.7 million yuan, or a loss of 2 fen per share, compared to a loss of 3.8 million yuan, or a loss of 1 fen per share, in the year-earlier period.

As of April 22, US$1 was equivalent to 6.50 yuan.