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China Taisan Technology Q4 loss narrows YOY

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China Taisan Technology Q4 loss narrows YOY

China Taisan Technology Group Holdings Ltd said its normalized net income for the fourth quarter was a loss of 1.72 yuan per share, compared with a loss of 6.43 yuan 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 96.5 million yuan, compared with a loss of 360.1 million yuan in the year-earlier period.

The normalized profit margin was 67.8%.

Total revenue climbed on an annual basis to 142.3 million yuan from 56.4 million yuan, and total operating expenses fell 53.5% on an annual basis to 296.6 million yuan from 638.1 million yuan.

Reported net income came to a loss of 259.4 million yuan, or a loss of 4.64 yuan per share, compared to a loss of 540.3 million yuan, or a loss of 9.66 yuan per share, in the prior-year period.

For the year, the company's normalized net income totaled a loss of 2.95 yuan per share, compared with a loss of 4.84 yuan per share in the prior year.

Normalized net income was a loss of 165.3 million yuan, compared with a loss of 271.0 million yuan in the prior year.

Full-year total revenue declined 5.8% on an annual basis to 752.0 million yuan from 798.0 million yuan, and total operating expenses declined 18.0% on an annual basis to 1.01 billion yuan from 1.24 billion yuan.

The company said reported net income totaled a loss of 369.4 million yuan, or a loss of 6.60 yuan per share, in the full year, compared with a loss of 434.1 million yuan, or a loss of 7.76 yuan per share, the prior year.

As of April 8, US$1 was equivalent to 6.47 yuan.