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Seamless Green China Q3 loss narrows YOY

Seamless Green China (Holdings) Ltd said its normalized net income for the third quarter came to a loss of HK$1.6 million, compared with a loss of HK$7.8 million in the year-earlier period.

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

The normalized profit margin climbed to negative 188.1% from negative 210.2% in the year-earlier period.

Total revenue declined 77.0% year over year to HK$855,000 from HK$3.7 million, and total operating expenses decreased 76.9% year over year to HK$3.5 million from HK$15.1 million.

Reported net income came to a loss of HK$2.6 million, or a loss of 0 cents per share, compared to a loss of HK$12.5 million, or a loss of 1 cents per share, in the prior-year period.