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Sichuan Jinyu Automobile Q2 loss widens YOY

Sichuan Jinyu Automobile City (Group) Co. Ltd. said its second-quarter normalized net income came to a loss of 7 fen per share, compared with a loss of 4 fen per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 9.0 million yuan, compared with a loss of 3.4 million yuan in the year-earlier period.

The normalized profit margin declined to negative 42.2% from negative 16.0% in the year-earlier period.

Total revenue climbed year over year to 21.8 million yuan from 21.0 million yuan, and total operating expenses climbed 24.5% year over year to 27.5 million yuan from 22.1 million yuan.

Reported net income totaled a loss of 14.7 million yuan, or a loss of 12 fen per share, compared to a loss of 5.6 million yuan, or a loss of 6 fen per share, in the year-earlier period.

As of Aug. 11, US$1 was equivalent to 6.64 yuan.