China Jishan Holdings Ltd said its normalized net income for the first quarter came to a loss of 2 fen per share, compared with a loss of 3 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 6.7 million yuan, compared with a loss of 7.7 million yuan in the year-earlier period.
The normalized profit margin dropped to negative 11.5% from negative 10.9% in the year-earlier period.
Total revenue decreased 17.9% on an annual basis to 58.2 million yuan from 70.9 million yuan, and total operating expenses declined 18.1% year over year to 63.2 million yuan from 77.2 million yuan.
Reported net income came to 61.0 million yuan, or 20 fen per share, compared to a loss of 9.4 million yuan, or a loss of 3 fen per share, in the year-earlier period.
As of May 13, US$1 was equivalent to 6.20 yuan.
