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Wuhan Guide Infrared Q1 loss widens 16.9% YOY

Wuhan Guide Infrared Co. Ltd. said its first-quarter normalized net income came to a loss of 1 fen per share, compared with a loss of 1 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 8.5 million yuan, compared with a loss of 7.3 million yuan in the prior-year period.

The normalized profit margin increased to negative 6.4% from negative 9.2% in the year-earlier period.

Total revenue grew 44.6% year over year to 114.4 million yuan from 79.2 million yuan, and total operating expenses climbed 39.0% year over year to 128.5 million yuan from 92.5 million yuan.

Reported net income came to a loss of 11.8 million yuan, or a loss of 2 fen per share, compared to a loss of 8.9 million yuan, or a loss of 1 fen per share, in the year-earlier period.

As of April 27, US$1 was equivalent to 6.50 yuan.