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Beijing Jingxi Culture & Tourism swings to loss in Q1

Beijing Jingxi Culture & Tourism Co. Ltd. said its first-quarter normalized net income was a loss of 4.2 million yuan, compared with income of 1.9 million 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 dropped to negative 9.7% from 4.7% in the year-earlier period.

Total revenue increased 5.2% year over year to 43.2 million yuan from 41.1 million yuan, and total operating expenses climbed 22.6% year over year to 54.6 million yuan from 44.5 million yuan.

Reported net income totaled a loss of 1.8 million yuan, or a loss of 0 fen per share, compared to income of 1.4 million yuan, or 0 fen per share, in the year-earlier period.

As of April 28, US$1 was equivalent to 6.20 yuan.