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Hunan New Wellful Q1 loss narrows YOY

Hunan New Wellful Co. Ltd. said its first-quarter normalized net income was a loss of 2 fen per share, compared with a loss of 3 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 11.2 million yuan, compared with a loss of 13.0 million yuan in the prior-year period.

The normalized profit margin climbed to negative 4.4% from negative 5.1% in the year-earlier period.

Total revenue increased year over year to 264.2 million yuan from 257.0 million yuan, and total operating expenses increased year over year to 287.4 million yuan from 278.0 million yuan.

Reported net income came to a loss of 21.5 million yuan, or a loss of 5 fen per share, compared to a loss of 22.2 million yuan, or a loss of 5 fen per share, in the prior-year period.

As of April 30, US$1 was equivalent to 6.20 yuan.