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China Ouhua Winery Q2 loss widens YOY

China Ouhua Winery Holdings Ltd said its normalized net income for the second quarter came to a loss of 1.9 million yuan, compared with a loss of 1.9 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 climbed to negative 113.4% from negative 154.9% in the year-earlier period.

Total revenue rose 39.6% year over year to 1.7 million yuan from 1.2 million yuan, and total operating expenses increased 11.7% from the prior-year period to 5.1 million yuan from 4.6 million yuan.

Reported net income totaled a loss of 3.2 million yuan, or a loss of 0 fen per share, compared to a loss of 3.1 million yuan, or a loss of 0 fen per share, in the prior-year period.

As of Aug. 26, US$1 was equivalent to 6.67 yuan.