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Christine International H1 loss narrows YOY

Christine International Holdings Ltd. said its normalized net income for the first half amounted to a loss of 4 fen per share, compared with a loss of 5 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 39.8 million yuan, compared with a loss of 52.1 million yuan in the prior-year period.

Total revenue fell 9.3% on an annual basis to 444.7 million yuan from 490.4 million yuan, and total operating expenses decreased 10.0% from the prior-year period to 525.0 million yuan from 583.1 million yuan.

Reported net income came to a loss of 64.3 million yuan, or a loss of 6 fen per share, compared to a loss of 85.4 million yuan, or a loss of 8 fen per share, in the prior-year period.

As of Sept. 14, US$1 was equivalent to 6.68 yuan.