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Hubei Mailyard Share Q1 loss narrows YOY

Hubei Mailyard Share Co. Ltd. said its first-quarter normalized net income came to a loss of 1.3 million yuan, compared with a loss of 3.8 million 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 rose to negative 0.9% from negative 2.6% in the year-earlier period.

Total revenue declined year over year to 143.3 million yuan from 146.8 million yuan, and total operating expenses declined 12.5% year over year to 139.9 million yuan from 159.9 million yuan.

Reported net income totaled a loss of 4.5 million yuan, or a loss of 1 fen per share, compared to a loss of 8.0 million yuan, or a loss of 2 fen per share, in the year-earlier period.

As of April 27, US$1 was equivalent to 6.22 yuan.