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Shanghai Golden Bridge Infotech Q1 loss narrows YOY

Shanghai Golden Bridge Info Tech Co.Ltd. said its first-quarter normalized net income came to a loss of 3 fen per share, compared with a loss of 5 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 5.6 million yuan, compared with a loss of 7.1 million yuan in the year-earlier period.

The normalized profit margin increased to negative 9.0% from negative 17.7% in the year-earlier period.

Total revenue climbed 53.3% on an annual basis to 61.4 million yuan from 40.1 million yuan, and total operating expenses grew 40.8% from the prior-year period to 70.4 million yuan from 50.0 million yuan.

Reported net income totaled a loss of 5.4 million yuan, or a loss of 3 fen per share, compared to a loss of 8.6 million yuan, or a loss of 7 fen per share, in the year-earlier period.

As of April 29, US$1 was equivalent to 6.48 yuan.