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Hainan Dadonghai Tourism Centre swings to loss in Q4

Hainan Dadonghai Tourism Centre (Holdings) Co. Ltd. said its normalized net income for the fourth quarter came to a loss of 339,460 yuan, compared with income of 640,660 yuan in the prior-year period.

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

The normalized profit margin declined to negative 24.5% from 12.2% in the year-earlier period.

Total revenue decreased 12.3% on an annual basis to 4.6 million yuan from 5.3 million yuan, and total operating expenses fell 16.5% from the prior-year period to 5.6 million yuan from 6.7 million yuan.

Reported net income totaled a loss of 1.0 million yuan, or a loss of 0 fen per share, compared to income of 4.2 million yuan, or 1 fen per share, in the year-earlier period.

For the year, the company's normalized net income totaled 5.2 million yuan, compared with a loss of -443,740 yuan in the prior year.

Full-year total revenue decreased 21.4% on an annual basis to 15.9 million yuan from 20.2 million yuan, and total operating expenses came to 24.7 million yuan, compared with 24.9 million yuan in the prior-year period.

The company said reported net income came to a loss of 7.5 million yuan, or a loss of 2 fen per share, in the full year, compared with income of 2.5 million yuan, or 1 fen per share, the prior year.

As of March 25, US$1 was equivalent to 6.51 yuan.