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K-Star Sports Q3 loss widens 11.8% YOY

K-Star Sports Ltd said its normalized net income for the third quarter came to a loss of 3 fen per share, compared with a loss of 2 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 7.2 million yuan, compared with a loss of 6.4 million yuan in the year-earlier period.

The normalized profit margin fell to negative 9.1% from negative 7.9% in the year-earlier period.

Total revenue declined on an annual basis to 78.4 million yuan from 81.0 million yuan, and total operating expenses fell on an annual basis to 89.6 million yuan from 91.0 million yuan.

Reported net income came to a loss of 11.5 million yuan, or a loss of 4 fen per share, compared to a loss of 10.3 million yuan, or a loss of 4 fen per share, in the prior-year period.

As of Nov. 12, US$1 was equivalent to 6.37 yuan.