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HaiNan Yedao (Group) Q3 loss widens YOY

HaiNan Yedao (Group) Co. Ltd. said its third-quarter normalized net income came to a loss of 12.5 million yuan, compared with a loss of 3.4 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 fell to negative 7.2% from negative 4.9% in the year-earlier period.

Total revenue rose on an annual basis to 368.8 million yuan from 68.3 million yuan, and total operating expenses climbed from the prior-year period to 386.3 million yuan from 84.9 million yuan.

Reported net income came to a loss of 19.6 million yuan, or a loss of 4 fen per share, compared to a loss of 14.5 million yuan, or a loss of 3 fen per share, in the year-earlier period.

As of Oct. 27, US$1 was equivalent to 6.78 yuan.