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Harbin Dongan Auto Engine Q1 loss widens 25.5% YOY

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Harbin Dongan Auto Engine Q1 loss widens 25.5% YOY

Harbin Dongan Auto Engine Co. Ltd. said its first-quarter normalized net income came to a loss of 2 fen per share, compared with a loss of 1 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 8.5 million yuan, compared with a loss of 6.8 million yuan in the prior-year period.

The normalized profit margin rose to negative 3.4% from negative 3.9% in the year-earlier period.

Total revenue grew 43.1% year over year to 249.8 million yuan from 174.6 million yuan, and total operating expenses increased 31.4% from the prior-year period to 277.1 million yuan from 210.9 million yuan.

Reported net income came to a loss of 13.6 million yuan, or a loss of 3 fen per share, compared to a loss of 10.9 million yuan, or a loss of 2 fen per share, in the prior-year period.

As of April 20, US$1 was equivalent to 6.20 yuan.