Nanjing Textiles Import & Export Corp. Ltd. said its first-quarter normalized net income was a loss of 7 fen per share, compared with a loss of 6 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 17.9 million yuan, compared with a loss of 16.9 million yuan in the year-earlier period.
The normalized profit margin declined to negative 6.2% from negative 1.9% in the year-earlier period.
Total revenue fell 67.1% year over year to 286.9 million yuan from 873.1 million yuan, and total operating expenses decreased 66.7% year over year to 294.5 million yuan from 884.3 million yuan.
Reported net income totaled a loss of 64.9 million yuan, or a loss of 25 fen per share, compared to a loss of 55.2 million yuan, or a loss of 21 fen per share, in the year-earlier period.
As of April 29, US$1 was equivalent to 6.20 yuan.
