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Beijing Hualian Hypermarket swings to loss in Q1

Beijing Hualian Hypermarket Co. Ltd. said its normalized net income for the first quarter amounted to a loss of 1.9 million yuan, compared with income of 11.5 million yuan in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin declined to 0.0% from 0.3% in the year-earlier period.

Total revenue increased 8.3% year over year to 3.95 billion yuan from 3.65 billion yuan, and total operating expenses climbed 9.1% year over year to 3.93 billion yuan from 3.60 billion yuan.

Reported net income increased year over year to 139.9 million yuan, or 21 fen per share, from 8.5 million yuan, or 1 fen per share.

As of April 27, US$1 was equivalent to 6.22 yuan.