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Jiangxi Zhengbang Technology Q1 loss widens 70.2% YOY

Jiangxi Zhengbang Technology Co.Ltd. said its normalized net income for the first quarter came to a loss of 3 fen per share, compared with a loss of 2 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 48.2 million yuan, compared with a loss of 28.3 million yuan in the year-earlier period.

The normalized profit margin declined to negative 1.0% from negative 0.8% in the year-earlier period.

Total revenue came to 3.57 billion yuan, compared with 3.56 billion yuan in the year-earlier period, and total operating expenses totaled 3.61 billion yuan, compared with 3.59 billion yuan in the year-earlier period.

Reported net income came to a loss of 62.9 million yuan, or a loss of 4 fen per share, compared to a loss of 69.1 million yuan, or a loss of 5 fen per share, in the year-earlier period.

As of April 28, US$1 was equivalent to 6.20 yuan.