Shandong Yisheng Livestock & Poultry Breeding Co. Ltd. said its first-quarter normalized net income amounted to a loss of 14 fen per share, compared with a loss of 16 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 40.7 million yuan, compared with a loss of 44.7 million yuan in the prior-year period.
The normalized profit margin rose to negative 22.6% from negative 36.2% in the year-earlier period.
Total revenue rose 44.7% year over year to 178.6 million yuan from 123.5 million yuan, and total operating expenses grew 23.3% from the prior-year period to 228.7 million yuan from 185.5 million yuan.
Reported net income came to a loss of 63.4 million yuan, or a loss of 22 fen per share, compared to a loss of 69.8 million yuan, or a loss of 25 fen per share, in the year-earlier period.
As of April 27, US$1 was equivalent to 6.22 yuan.
