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Wuhan Sante Cableway Q1 loss narrows YOY

Wuhan Sante Cableway Group Co. Ltd. said its normalized net income for the first quarter came to a loss of 2 fen per share, compared with a loss of 5 fen per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 3.3 million yuan, compared with a loss of 6.6 million yuan in the year-earlier period.

The normalized profit margin climbed to negative 3.7% from negative 9.3% in the year-earlier period.

Total revenue climbed 30.5% on an annual basis to 92.0 million yuan from 70.5 million yuan, and total operating expenses rose 14.9% on an annual basis to 86.4 million yuan from 75.2 million yuan.

Reported net income came to a loss of 16.7 million yuan, or a loss of 12 fen per share, compared to a loss of 21.0 million yuan, or a loss of 15 fen per share, in the year-earlier period.

As of April 28, US$1 was equivalent to 6.48 yuan.