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Shanghai Jiaoda Withub Q1 loss widens 46.4% YOY

Shanghai Jiaoda Withub Information Industrial Company Ltd. said its first-quarter normalized net income amounted to a loss of 3.3 million yuan, compared with a loss of 2.3 million yuan in the prior-year period.

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

The normalized profit margin dropped to negative 19.0% from negative 11.9% in the year-earlier period.

Total revenue declined 8.4% year over year to 17.5 million yuan from 19.1 million yuan, and total operating expenses decreased 8.7% year over year to 21.2 million yuan from 23.2 million yuan.

Reported net income came to a loss of 5.3 million yuan, or a loss of 1 fen per share, compared to a loss of 3.6 million yuan, or a loss of 1 fen per share, in the prior-year period.

As of May 12, US$1 was equivalent to 6.51 yuan.