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Linekong Interactive Q1 loss narrows YOY

Linekong Interactive Group Co. Ltd. said its first-quarter normalized net income was a loss of 3 fen per share, compared with a loss of 12 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 12.4 million yuan, compared with a loss of 38.8 million yuan in the year-earlier period.

The normalized profit margin rose to negative 7.4% from negative 34.2% in the year-earlier period.

Total revenue rose 47.2% year over year to 166.9 million yuan from 113.4 million yuan, and total operating expenses rose 5.1% year over year to 185.9 million yuan from 176.9 million yuan.

Reported net income came to a loss of 7.3 million yuan, or a loss of 2 fen per share, compared to a loss of 55.7 million yuan, or a loss of 17 fen per share, in the year-earlier period.

As of May 13, US$1 was equivalent to 6.53 yuan.