Shandong Jintai Group Co. Ltd. said its normalized net income for the third quarter came to a loss of 548,240 yuan, compared with a loss of 595,580 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 increased to negative 46.4% from negative 94.9% in the year-earlier period.
Total revenue increased on an annual basis to 2.5 million yuan from 627,550 yuan, and total operating expenses increased 48.2% from the prior-year period to 3.4 million yuan from 2.3 million yuan.
Reported net income came to a loss of 1.5 million yuan, or a loss of 1 fen per share, compared to a loss of 1.6 million yuan, or a loss of 1 fen per share, in the year-earlier period.
As of Oct. 26, US$1 was equivalent to 6.77 yuan.