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Haoyun Technologies Q1 loss widens 15.1% YOY

Haoyun Technologies Co.Ltd. said its normalized net income for the first quarter was a loss of 2 fen per share, compared with a loss of 3 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 8.3 million yuan, compared with a loss of 7.2 million yuan in the prior-year period.

The normalized profit margin rose to negative 9.5% from negative 10.3% in the year-earlier period.

Total revenue increased 15.9% year over year to 81.9 million yuan from 70.6 million yuan, and total operating expenses climbed 17.0% year over year to 95.5 million yuan from 81.6 million yuan.

Reported net income totaled a loss of 15.0 million yuan, or a loss of 4 fen per share, compared to a loss of 12.2 million yuan, or a loss of 4 fen per share, in the year-earlier period.

As of April 26, US$1 was equivalent to 6.50 yuan.