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Guangdong Haid Q4 loss narrows YOY

Guangdong Haid Group Co. Ltd. said its fourth-quarter normalized net income was a loss of 4.3 million yuan, compared with a loss of 32.8 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 rose to negative 0.3% from negative 0.7% in the year-earlier period.

Total revenue rose 65.3% on an annual basis to 7.97 billion yuan from 4.82 billion yuan, and total operating expenses rose 63.4% on an annual basis to 7.93 billion yuan from 4.85 billion yuan.

Reported net income totaled 49.5 million yuan, or 3 fen per share, compared to a loss of 1.1 million yuan, or a loss of 0 fen per share, in the prior-year period.

For the year, the company's normalized net income totaled 37 fen per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 48 fen.

EPS rose 27.4% from 29 fen in the prior year.

Normalized net income was 569.7 million yuan, an increase of 30.2% from 437.4 million yuan in the prior year.

Full-year total revenue rose 21.2% on an annual basis to 25.57 billion yuan from 21.09 billion yuan, and total operating expenses rose 20.7% on an annual basis to 24.54 billion yuan from 20.32 billion yuan.

The company said reported net income grew 44.9% on an annual basis to 780.0 million yuan, or 51 fen per share, in the full year, from 538.5 million yuan, or 36 fen per share.

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