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Zhongchang Big Data Q1 loss widens 53.1% YOY

Zhongchang Big Data Corporation Ltd. said its first-quarter normalized net income came to a loss of 2 fen per share, compared with a loss of 2 fen per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 6.7 million yuan, compared with a loss of 4.4 million yuan in the year-earlier period.

The normalized profit margin increased to negative 8.4% from negative 9.1% in the year-earlier period.

Total revenue grew 62.5% year over year to 77.7 million yuan from 47.8 million yuan, and total operating expenses increased 21.0% on an annual basis to 76.5 million yuan from 63.2 million yuan.

Reported net income totaled a loss of 6.9 million yuan, or a loss of 3 fen per share, compared to a loss of 6.0 million yuan, or a loss of 2 fen per share, in the year-earlier period.

As of April 19, US$1 was equivalent to 6.46 yuan.