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Changbai Mountain Tourism profit holds mostly steady YOY in Q1

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Changbai Mountain Tourism profit holds mostly steady YOY in Q1

Changbai Mountain Tourism Co. Ltd. said its first-quarter normalized net income came to a loss of 2 fen per share, compared with a loss of 3 fen per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 4.8 million yuan, compared with a loss of 4.8 million yuan in the year-earlier period.

The normalized profit margin increased to negative 20.5% from negative 32.8% in the year-earlier period.

Total revenue increased 58.1% on an annual basis to 22.9 million yuan from 14.5 million yuan, and total operating expenses grew 37.8% on an annual basis to 31.4 million yuan from 22.8 million yuan.

Reported net income came to a loss of 7.5 million yuan, or a loss of 3 fen per share, compared to a loss of 7.6 million yuan, or a loss of 4 fen per share, in the year-earlier period.

As of April 28, US$1 was equivalent to 6.20 yuan.