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Guanghe Landscape Culture Communication Q3 profit falls YOY

Guanghe Landscape Culture Communication Co. Ltd. said its normalized net income for the third quarter amounted to 584,700 yuan, a decline of 83.0% from 3.4 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 dropped to 11.8% from 125.8% in the year-earlier period.

Total revenue climbed 36.0% on an annual basis to 3.7 million yuan from 2.7 million yuan, and total operating expenses declined 11.1% year over year to 2.0 million yuan from 2.2 million yuan.

Reported net income came to a loss of 1.5 million yuan, or a loss of 1 fen per share, compared to income of 3.7 million yuan, or 2 fen per share, in the prior-year period.

As of Oct. 28, US$1 was equivalent to 6.78 yuan.