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Tianshui Zhongxing Bio-technology Q2 loss widens 62.2% YOY

Tianshui Zhongxing Bio-technology Co. Ltd. said its second-quarter normalized net income 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 8.1 million yuan, compared with a loss of 5.0 million yuan in the prior-year period.

The normalized profit margin dropped to negative 8.2% from negative 6.6% in the year-earlier period.

Total revenue grew 8.7% on an annual basis to 82.6 million yuan from 76.0 million yuan, and total operating expenses increased 18.0% on an annual basis to 98.2 million yuan from 83.2 million yuan.

Reported net income came to a loss of 11.2 million yuan, or a loss of 4 fen per share, compared to a loss of 7.8 million yuan, or a loss of 3 fen per share, in the year-earlier period.

As of July 29, US$1 was equivalent to 6.63 yuan.