Shandong Jintai Group Co. Ltd. said its second-quarter normalized net income was a loss of 23,580 yuan, compared with a loss of 1.9 million yuan in the prior-year period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
The normalized profit margin was 2.2%.
Total revenue climbed on an annual basis to 28.7 million yuan from 578,450 yuan, and total operating expenses increased on an annual basis to 29.0 million yuan from 2.8 million yuan.
Reported net income totaled 3.8 million yuan, or 2 fen per share, compared to a loss of 2.7 million yuan, or a loss of 2 fen per share, in the prior-year period.
As of Aug. 17, US$1 was equivalent to 6.64 yuan.