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Boomsense Technology Q1 loss widens YOY

Boomsense Technology Co.Ltd. said its normalized net income for the first quarter came to a loss of 5 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 17.2 million yuan, compared with a loss of 3.7 million yuan in the year-earlier period.

The normalized profit margin dropped to negative 28.1% from negative 3.3% in the year-earlier period.

Total revenue fell 45.1% year over year to 61.3 million yuan from 111.8 million yuan, and total operating expenses decreased 27.0% on an annual basis to 84.2 million yuan from 115.3 million yuan.

Reported net income came to a loss of 26.9 million yuan, or a loss of 8 fen per share, compared to income of 1.9 million yuan, or 1 fen per share, in the prior-year period.

As of April 26, US$1 was equivalent to 6.50 yuan.