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Shenzhen Tianyuan DIC Q1 loss narrows YOY

Shenzhen Tianyuan DIC Information Technology Co. Ltd. said its normalized net income for the first quarter came to a loss of 3 fen per share, compared with a loss of 6 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 9.1 million yuan, compared with a loss of 19.3 million yuan in the prior-year period.

The normalized profit margin climbed to negative 2.2% from negative 8.3% in the year-earlier period.

Total revenue grew 67.7% year over year to 389.1 million yuan from 232.0 million yuan, and total operating expenses climbed 52.3% year over year to 393.7 million yuan from 258.5 million yuan.

Reported net income totaled a loss of 11.8 million yuan, or a loss of 4 fen per share, compared to a loss of 24.0 million yuan, or a loss of 8 fen per share, in the year-earlier period.

As of April 15, US$1 was equivalent to 6.47 yuan.