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CNPC Capital Q3 loss widens 39.7% YOY

CNPC Capital Co. Ltd. said its third-quarter normalized net income was a loss of 7 fen per share, compared with a loss of 5 fen per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 20.9 million yuan, compared with a loss of 14.9 million yuan in the prior-year period.

The normalized profit margin dropped to negative 17.0% from negative 7.4% in the year-earlier period.

Total revenue declined 38.9% on an annual basis to 122.9 million yuan from 201.0 million yuan, and total operating expenses fell 31.1% year over year to 149.4 million yuan from 216.7 million yuan.

Reported net income totaled a loss of 31.4 million yuan, or a loss of 11 fen per share, compared with a loss of 22.3 million yuan, or a loss of 8 fen per share, in the year-earlier period.

As of Oct. 28, US$1 was equivalent to 6.36 yuan.