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XinJiang Korla Pear Q4 loss widens YOY

XinJiang Korla Pear Co. Ltd. said its fourth-quarter normalized net income amounted to a loss of 4 fen per share, compared with a loss of 2 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 5.5 million yuan, compared with a loss of 2.6 million yuan in the year-earlier period.

The normalized profit margin fell to negative 67.3% from negative 6.6% in the year-earlier period.

Total revenue decreased 83.8% year over year to 6.3 million yuan from 38.8 million yuan, and total operating expenses decreased 65.8% year over year to 15.2 million yuan from 44.3 million yuan.

Reported net income came to 6.7 million yuan, or 4 fen per share, compared to a loss of 7.9 million yuan, or a loss of 5 fen per share, in the year-earlier period.

For the year, the company's normalized net income totaled a loss of 5 fen per share, compared with a loss of 5 fen per share in the prior year.

Normalized net income was a loss of 8.1 million yuan, compared with a loss of 7.0 million yuan in the prior year.

Full-year total revenue decreased 51.8% from the prior-year period to 53.9 million yuan from 111.8 million yuan, and total operating expenses fell 46.7% on an annual basis to 67.3 million yuan from 126.2 million yuan.

The company said reported net income totaled 2.4 million yuan, or 2 fen per share, in the full year, compared with a loss of 15.1 million yuan, or a loss of 10 fen per share, the prior year.

As of March 11, US$1 was equivalent to 6.50 yuan.