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New Focus Auto Tech H1 loss narrows YOY

New Focus Auto Tech Holdings Ltd. said its normalized net income for the first half amounted to a loss of 2.0 million yuan, compared with a loss of 10.0 million yuan in the prior-year period.

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

Total revenue came to 649.2 million yuan, compared with 643.8 million yuan in the year-earlier period, and total operating expenses declined on an annual basis to 617.3 million yuan from 640.3 million yuan.

Reported net income came to a loss of 45,770 yuan, or a loss of 0 fen per share, compared to a loss of 15.0 million yuan, or a loss of 0 fen per share, in the prior-year period.

As of Sept. 28, US$1 was equivalent to 6.68 yuan.