Fuxing China Group Ltd. said its first-quarter normalized net income amounted to a loss of 25 fen per share, compared with a loss of 11 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 4.3 million yuan, compared with a loss of 1.9 million yuan in the year-earlier period.
The normalized profit margin declined to negative 2.8% from negative 1.7% in the year-earlier period.
Total revenue grew 42.1% year over year to 152.3 million yuan from 107.2 million yuan, and total operating expenses grew 42.6% on an annual basis to 157.5 million yuan from 110.5 million yuan.
Reported net income totaled a loss of 7.0 million yuan, or a loss of 40 fen per share, compared to a loss of 6.1 million yuan, or a loss of 35 fen per share, in the year-earlier period.
As of April 29, US$1 was equivalent to 6.20 yuan.
