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Ningbo Sunlight Electrical Appliance Q2 loss widens 16.7% YOY

Ningbo Sunlight Electrical Appliance Co. Ltd. said its normalized net income for the second quarter amounted to a loss of 2 fen per share, compared with a loss of 2 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 3.6 million yuan, compared with a loss of 3.1 million yuan in the year-earlier period.

The normalized profit margin fell to negative 14.5% from negative 12.0% in the year-earlier period.

Total revenue decreased year over year to 24.4 million yuan from 25.4 million yuan, and total operating expenses fell year over year to 30.3 million yuan from 30.8 million yuan.

Reported net income came to a loss of 5.5 million yuan, or a loss of 3 fen per share, compared to a loss of 5.0 million yuan, or a loss of 3 fen per share, in the year-earlier period.

As of Aug. 25, US$1 was equivalent to 6.66 yuan.