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Gansu Huangtai Wine-Marketing Industry Q2 loss widens YOY

Gansu Huangtai Wine-Marketing Industry Co. Ltd. said its second-quarter normalized net income amounted to a loss of 6 fen per share, compared with a loss of 2 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 9.7 million yuan, compared with a loss of 4.2 million yuan in the year-earlier period.

The normalized profit margin increased to negative 29.3% from negative 43.8% in the year-earlier period.

Total revenue rose on an annual basis to 32.7 million yuan from 9.7 million yuan, and total operating expenses rose year over year to 45.6 million yuan from 12.7 million yuan.

Reported net income totaled a loss of 15.0 million yuan, or a loss of 10 fen per share, compared to a loss of 6.4 million yuan, or a loss of 3 fen per share, in the year-earlier period.

As of Aug. 25, US$1 was equivalent to 6.66 yuan.