Chaoda Modern Agriculture (Holdings) Ltd said its normalized net income for the fiscal first half ended Dec. 31, 2014, amounted to a loss of 21 fen per share, compared with a loss of 19 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 679.4 million yuan, compared with a loss of 638.2 million yuan in the prior-year period.
Total revenue declined 24.0% on an annual basis to 619.0 million yuan from 814.7 million yuan, and total operating expenses decreased 7.2% on an annual basis to 1.70 billion yuan from 1.83 billion yuan.
Reported net income totaled a loss of 1.61 billion yuan, or a loss of 49 fen per share, compared to a loss of 1.22 billion yuan, or a loss of 37 fen per share, in the year-earlier period.
As of March 30, US$1 was equivalent to 6.21 yuan.
