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Beingmate Baby & Child Food Q2 loss widens 84.8% YOY

Beingmate Baby & Child Food Co. Ltd. said its second-quarter normalized net income amounted to a loss of 23 fen per share, compared with a loss of 12 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 235.9 million yuan, compared with a loss of 127.6 million yuan in the year-earlier period.

The normalized profit margin dropped to negative 52.3% from negative 14.6% in the year-earlier period.

Total revenue fell 48.2% on an annual basis to 454.0 million yuan from 876.9 million yuan, and total operating expenses declined 21.3% from the prior-year period to 877.2 million yuan from 1.11 billion yuan.

Reported net income totaled a loss of 274.3 million yuan, or a loss of 26 fen per share, compared to a loss of 151.5 million yuan, or a loss of 14 fen per share, in the prior-year period.

As of Aug. 30, US$1 was equivalent to 6.67 yuan.