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GoHigh Data Networks Technology Q1 loss widens YOY

Gohigh Data Networks Technology Co. Ltd. said its normalized net income for the first quarter came to a loss of 6.5 million yuan, compared with a loss of 444,420 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 0.3% from negative 0.0% in the year-earlier period.

Total revenue came to 1.47 billion yuan, compared with 1.48 billion yuan in the year-earlier period, and total operating expenses totaled 1.45 billion yuan, compared with 1.45 billion yuan in the year-earlier period.

Reported net income totaled a loss of 15.0 million yuan, or a loss of 2 fen per share, compared to a loss of 5.5 million yuan, or a loss of 1 fen per share, in the prior-year period.

As of April 29, US$1 was equivalent to 6.48 yuan.