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China Jishan Holdings swings to loss in Q2

China Jishan Holdings Ltd said its second-quarter normalized net income was a loss of 2.4 million yuan, compared with income of 345,630 yuan in the year-earlier period.

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

The normalized profit margin dropped to negative 10.5% from 1.3% in the year-earlier period.

Total revenue decreased 11.3% on an annual basis to 22.7 million yuan from 25.6 million yuan, and total operating expenses rose 9.9% year over year to 21.6 million yuan from 19.6 million yuan.

Reported net income came to a loss of 3.0 million yuan, or a loss of 1 fen per share, compared to income of 4.5 million yuan, or 1 fen per share, in the prior-year period.

As of Aug. 11, US$1 was equivalent to 6.64 yuan.