Gansu Dunhuang Seed Co. Ltd. said its normalized net income for the first quarter came to a loss of 3 fen per share, compared with a loss of 5 fen per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 15.3 million yuan, compared with a loss of 23.0 million yuan in the year-earlier period.
The normalized profit margin rose to negative 9.6% from negative 12.0% in the year-earlier period.
Total revenue fell 12.0% year over year to 168.0 million yuan from 190.9 million yuan, and total operating expenses fell 9.1% from the prior-year period to 187.6 million yuan from 206.4 million yuan.
Reported net income came to a loss of 51.2 million yuan, or a loss of 11 fen per share, compared to a loss of 72.1 million yuan, or a loss of 16 fen per share, in the prior-year period.
As of April 29, US$1 was equivalent to 6.20 yuan.
