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Xinjiang Guannong Fruit & Antler Q4 loss widens YOY

Xinjiang Guannong Fruit & Antler Group Co.Ltd. said its fourth-quarter normalized net income came to a loss of 7.4 million yuan, compared with a loss of 3.2 million yuan in the prior-year period.

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

The normalized profit margin declined to negative 1.7% from negative 0.9% in the year-earlier period.

Total revenue increased 27.1% on an annual basis to 451.8 million yuan from 355.5 million yuan, and total operating expenses rose 19.0% year over year to 468.6 million yuan from 393.9 million yuan.

Reported net income totaled a loss of 6.4 million yuan, or a loss of 1 fen per share, compared to income of 5.6 million yuan, or 1 fen per share, in the year-earlier period.

For the year, the company's normalized net income totaled 9 fen per share, a decline of 22.3% from 12 fen per share in the prior year.

Normalized net income was 72.6 million yuan, a decline of 20.7% from 91.5 million yuan in the prior year.

Full-year total revenue rose 32.8% on an annual basis to 1.53 billion yuan from 1.15 billion yuan, and total operating expenses rose 30.8% on an annual basis to 1.55 billion yuan from 1.19 billion yuan.

The company said reported net income decreased 19.0% on an annual basis to 131.1 million yuan, or 17 fen per share, in the full year, from 161.8 million yuan, or 21 fen per share.

As of April 11, US$1 was equivalent to 6.46 yuan.