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Aucma Q4 loss widens 92.6% YOY

Aucma Co.Ltd. said its normalized net income for the fourth quarter came to a loss of 8 fen per share, compared with a loss of 3 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 43.1 million yuan, compared with a loss of 22.4 million yuan in the prior-year period.

The normalized profit margin declined to negative 8.0% from negative 2.8% in the year-earlier period.

Total revenue decreased 20.9% on an annual basis to 638.6 million yuan from 806.9 million yuan, and total operating expenses decreased 13.7% from the prior-year period to 709.1 million yuan from 821.2 million yuan.

Reported net income came to a loss of 51.2 million yuan, or a loss of 10 fen per share, compared to a loss of 20.4 million yuan, or a loss of 3 fen per share, in the prior-year period.

For the year, the company's normalized net income totaled 2 fen per share, a decrease of 72.4% from 8 fen per share in the prior year.

Normalized net income was 13.5 million yuan, a fall of 75.3% from 54.5 million yuan in the prior year.

Full-year total revenue fell 12.5% from the prior-year period to 3.61 billion yuan from 4.12 billion yuan, and total operating expenses declined 10.5% on an annual basis to 3.57 billion yuan from 3.99 billion yuan.

The company said reported net income declined 73.1% year over year to 19.2 million yuan, or 3 fen per share, in the full year, from 71.5 million yuan, or 10 fen per share.

As of March 30, US$1 was equivalent to 6.47 yuan.