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K-Star Sports Q2 loss widens 11.3% YOY

K-Star Sports Ltd said its second-quarter normalized net income came to a loss of 3 fen per share, compared with a loss of 3 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 8.8 million yuan, compared with a loss of 7.9 million yuan in the prior-year period.

The normalized profit margin dropped to negative 11.9% from negative 10.6% in the year-earlier period.

Total revenue came to 73.7 million yuan, compared with 74.3 million yuan in the year-earlier period, and total operating expenses totaled 85.9 million yuan, compared with 86.6 million yuan in the prior-year period.

Reported net income totaled a loss of 14.1 million yuan, or a loss of 5 fen per share, compared to a loss of 12.6 million yuan, or a loss of 5 fen per share, in the prior-year period.

As of Aug. 22, US$1 was equivalent to 6.64 yuan.