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Gansu Huangtai Wine-Marketing Industry Q1 loss narrows YOY

Gansu Huangtai Wine-Marketing Industry Co. Ltd. said its first-quarter normalized net income came to a loss of 1 fen per share, compared with a loss of 1 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 1.6 million yuan, compared with a loss of 2.1 million yuan in the prior-year period.

The normalized profit margin increased to negative 8.9% from negative 11.5% in the year-earlier period.

Total revenue climbed year over year to 18.3 million yuan from 17.8 million yuan, and total operating expenses declined from the prior-year period to 17.9 million yuan from 18.7 million yuan.

Reported net income came to a loss of 2.9 million yuan, or a loss of 2 fen per share, compared to a loss of 3.3 million yuan, or a loss of 2 fen per share, in the prior-year period.

As of April 28, US$1 was equivalent to 6.20 yuan.