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Zhi Cheng Holdings fiscal Q3 loss narrows YOY

Dadi International Group Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, was a loss of HK$4.9 million, compared with a loss of HK$9.7 million in the year-earlier period.

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

The normalized profit margin rose to negative 131.7% from negative 133.1% in the year-earlier period.

Total revenue fell 48.5% year over year to HK$3.7 million from HK$7.3 million, and total operating expenses declined 53.3% year over year to HK$12.6 million from HK$26.9 million.

Reported net income totaled a loss of HK$8.0 million, or a loss of 1 cents per share, compared to a loss of HK$16.9 million, or a loss of 3 cents per share, in the year-earlier period.