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China Ouhua Winery Q3 loss widens 68.2% YOY

China Ouhua Winery Holdings Ltd said its normalized net income for the third quarter amounted to a loss of 10.6 million yuan, compared with a loss of 6.3 million yuan in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

Total revenue rose 14.8% year over year to 3.1 million yuan from 2.7 million yuan, and total operating expenses climbed 57.3% on an annual basis to 21.6 million yuan from 13.7 million yuan.

Reported net income totaled a loss of 17.5 million yuan, or a loss of 3 fen per share, compared to a loss of 10.4 million yuan, or a loss of 2 fen per share, in the year-earlier period.

As of Nov. 26, US$1 was equivalent to 6.39 yuan.