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Guangdong Qunxing Toys Joint-Stock Q4 loss widens 18.3% YOY

4913171 said its fourth-quarter normalized net income came to a loss of 1 fen per share, compared with a loss of 1 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 7.0 million yuan, compared with a loss of 5.9 million yuan in the prior-year period.

The normalized profit margin declined to negative 20.8% from negative 10.0% in the year-earlier period.

Total revenue declined 32.2% year over year to 40.0 million yuan from 59.1 million yuan, and total operating expenses declined 23.7% year over year to 52.2 million yuan from 68.4 million yuan.

Reported net income totaled a loss of 4.2 million yuan, or a loss of 1 fen per share, compared to a loss of 6.8 million yuan, or a loss of 1 fen per share, in the prior-year period.

For the year, the company's normalized net income totaled 2 fen per share, a fall of 8.0% from 2 fen per share in the prior year.

Normalized net income was 10.3 million yuan, a decrease of 7.9% from 11.2 million yuan in the prior year.

Full-year total revenue fell 21.0% on an annual basis to 319.4 million yuan from 404.2 million yuan, and total operating expenses decreased 19.1% on an annual basis to 315.6 million yuan from 390.0 million yuan.

The company said reported net income grew 22.3% on an annual basis to 18.2 million yuan, or 3 fen per share, in the full year, from 14.9 million yuan, or 3 fen per share.

s of Feb. 26, US$1 was equivalent to 6.54 yuan.Guangdong Qunxing Toys Joint-Stock Co. Ltd.

4913171 said its fourth-quarter normalized net income came to a loss of 1 fen per share, compared with a loss of 1 fen per share in the year-earlier period.