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Zhongbai Holdings Q3 loss widens 37.7% YOY

Zhongbai Holdings Group Co. Ltd. said its third-quarter normalized net income amounted to a loss of 10 fen per share, compared with a loss of 7 fen per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 68.5 million yuan, compared with a loss of 49.8 million yuan in the year-earlier period.

The normalized profit margin declined to negative 1.9% from negative 1.3% in the year-earlier period.

Total revenue declined on an annual basis to 3.61 billion yuan from 3.78 billion yuan, and total operating expenses decreased year over year to 3.70 billion yuan from 3.83 billion yuan.

Reported net income totaled a loss of 112.4 million yuan, or a loss of 16 fen per share, compared to a loss of 79.7 million yuan, or a loss of 12 fen per share, in the prior-year period.

As of Oct. 26, US$1 was equivalent to 6.77 yuan.