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Sino-Life Group Q4 loss narrows YOY

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Sino-Life Group Q4 loss narrows YOY

Sino-Life Group Ltd said its normalized net income for the fourth quarter amounted to a loss of 3.5 million yuan, compared with a loss of 3.9 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 increased to negative 23.4% from negative 31.8% in the year-earlier period.

Total revenue increased 22.2% on an annual basis to 14.9 million yuan from 12.2 million yuan, and total operating expenses climbed 22.0% on an annual basis to 24.8 million yuan from 20.3 million yuan.

Reported net income came to a loss of 8.5 million yuan, or a loss of 1 fen per share, compared to a loss of 12.8 million yuan, or a loss of 2 fen per share, in the year-earlier period.

For the year, the company's normalized net income totaled 3.3 million yuan, compared with a loss of -2.2 million yuan in the prior year.

Full-year total revenue decreased 11.5% year over year to 61.6 million yuan from 69.6 million yuan, and total operating expenses fell on an annual basis to 71.4 million yuan from 74.9 million yuan.

The company said reported net income totaled a loss of 9.4 million yuan, or a loss of 1 fen per share, in the full year, compared with a loss of 11.1 million yuan, or a loss of 2 fen per share, the prior year.

As of March 30, US$1 was equivalent to 6.47 yuan.