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China Ouhua Winery Q3 loss narrows YOY

China Ouhua Winery Holdings Ltd said its normalized net income for the third quarter amounted to a loss of 3.6 million yuan, compared with a loss of 10.6 million yuan in the prior-year period.

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

The normalized profit margin was 97.3%.

Total revenue rose 18.4% on an annual basis to 3.7 million yuan from 3.1 million yuan, and total operating expenses fell 54.2% year over year to 9.9 million yuan from 21.6 million yuan.

Reported net income came to a loss of 5.9 million yuan, or a loss of 1 fen per share, compared to a loss of 17.5 million yuan, or a loss of 3 fen per share, in the year-earlier period.

As of Nov. 29, US$1 was equivalent to 6.90 yuan.