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Jian ePayment Systems Q1 loss widens YOY

Jian ePayment Systems Ltd. said its first-quarter normalized net income came to a loss of 1.6 million yuan, compared with a loss of 1.6 million yuan in the prior-year period.

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

Total revenue decreased 87.3% year over year to 85,000 yuan from 667,000 yuan, and total operating expenses declined 25.0% year over year to 2.8 million yuan from 3.7 million yuan.

Reported net income totaled a loss of 2.6 million yuan, or a loss of 0 fen per share, compared to a loss of 2.5 million yuan, or a loss of 0 fen per share, in the year-earlier period.

As of April 29, US$1 was equivalent to 6.48 yuan.