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ZMFY Automobile Glass Q3 loss widens 44.5% YOY

ZMFY Automobile Glass Services Ltd said its normalized net income for the third quarter came to a loss of 6.9 million yuan, compared with a loss of 4.8 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 declined to negative 22.4% from negative 14.5% in the year-earlier period.

Total revenue decreased 6.5% year over year to 30.9 million yuan from 33.0 million yuan, and total operating expenses climbed year over year to 41.9 million yuan from 41.5 million yuan.

Reported net income totaled a loss of 11.1 million yuan, or a loss of 2 fen per share, compared to a loss of 7.5 million yuan, or a loss of 1 fen per share, in the year-earlier period.

As of Nov. 8, US$1 was equivalent to 6.79 yuan.