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Hainan Dadonghai Tourism Centre Q2 loss widens YOY

Hainan Dadonghai Tourism Centre (Holdings) Co. Ltd. said its second-quarter normalized net income came to a loss of 2.1 million yuan, compared with a loss of 950,950 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 dropped to negative 94.8% from negative 29.6% in the year-earlier period.

Total revenue declined 32.7% on an annual basis to 2.2 million yuan from 3.2 million yuan, and total operating expenses grew 15.4% year over year to 5.5 million yuan from 4.7 million yuan.

Reported net income came to a loss of 3.3 million yuan, or a loss of 1 fen per share, compared to a loss of 1.3 million yuan, or a loss of 0 fen per share, in the prior-year period.

As of July 24, US$1 was equivalent to 6.21 yuan.