Baotou Huazi Industry Co. Ltd. said its normalized net income for the fourth quarter came to a loss of 2 fen per share, compared with a loss of 4 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 8.0 million yuan, compared with a loss of 17.4 million yuan in the prior-year period.
The normalized profit margin increased to 133.9% from negative 14.3% in the year-earlier period.
Total revenue decreased 98.3% year over year to 2.1 million yuan from 121.1 million yuan, and total operating expenses decreased 74.2% on an annual basis to 45.9 million yuan from 178.3 million yuan.
Reported net income totaled a loss of 7.2 million yuan, or a loss of 1 fen per share, compared to a loss of 23.7 million yuan, or a loss of 5 fen per share, in the year-earlier period.
For the year, the company's normalized net income totaled 20 fen per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 5 fen.
EPS rose from 1 fen in the prior year.
Normalized net income was 97.7 million yuan, an increase from 5.3 million yuan in the prior year.
Full-year total revenue decreased 88.2% from the prior-year period to 32.8 million yuan from 277.0 million yuan, and total operating expenses fell 69.7% year over year to 120.4 million yuan from 398.0 million yuan.
The company said reported net income grew year over year to 147.6 million yuan, or 30 fen per share, in the full year, from 12.9 million yuan, or 3 fen per share.
As of March 25, US$1 was equivalent to 6.51 yuan.