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Guangdong Anjubao Digital Technology swings to loss in Q1

Guangdong Anjubao Digital Technology Co. Ltd. said its normalized net income for the first quarter came to a loss of 4.2 million yuan, compared with income of 5.1 million yuan in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin declined to negative 3.5% from 7.2% in the year-earlier period.

Total revenue grew 56.5% year over year to 109.9 million yuan from 70.2 million yuan, and total operating expenses climbed 72.5% year over year to 121.1 million yuan from 70.2 million yuan.

Reported net income totaled a loss of 5.3 million yuan, or a loss of 1 fen per share, compared to income of 6.5 million yuan, or 1 fen per share, in the year-earlier period.

As of April 24, US$1 was equivalent to 6.19 yuan.