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Hebei Huijin Electromechanical Q1 loss narrows YOY

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Hebei Huijin Electromechanical Q1 loss narrows YOY

Hebei Huijin Electromechanical Co. Ltd. said its first-quarter normalized net income was a loss of 3.0 million yuan, compared with a loss of 4.2 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 rose to negative 4.0% from negative 6.5% in the year-earlier period.

Total revenue climbed 14.2% on an annual basis to 72.7 million yuan from 63.7 million yuan, and total operating expenses grew 21.8% year over year to 86.3 million yuan from 70.8 million yuan.

Reported net income totaled a loss of 9.4 million yuan, or a loss of 2 fen per share, compared to a loss of 7.7 million yuan, or a loss of 2 fen per share, in the year-earlier period.

As of April 26, US$1 was equivalent to 6.50 yuan.