Fujian Sunner Development Co. Ltd. said its normalized net income for the first quarter was a loss of 12 fen per share, compared with a loss of 6 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 105.2 million yuan, compared with a loss of 53.0 million yuan in the prior-year period.
The normalized profit margin declined to negative 7.2% from negative 4.2% in the year-earlier period.
Total revenue rose 12.2% year over year to 1.42 billion yuan from 1.27 billion yuan, and total operating expenses increased 16.7% from the prior-year period to 1.54 billion yuan from 1.32 billion yuan.
Reported net income totaled a loss of 194.9 million yuan, or a loss of 21 fen per share, compared to a loss of 115.7 million yuan, or a loss of 13 fen per share, in the year-earlier period.
As of April 24, US$1 was equivalent to 6.19 yuan.
