Creative China Holdings Ltd. said its normalized net income for the first quarter amounted to a loss of 2.6 million yuan, compared with a loss of 1.1 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 fell to negative 27.5% from negative 12.8% in the year-earlier period.

Total revenue increased 16.1% on an annual basis to 9.6 million yuan from 8.3 million yuan, and total operating expenses increased 68.4% on an annual basis to 14.1 million yuan from 8.4 million yuan.

Reported net income came to a loss of 4.6 million yuan, or a loss of 0 fen per share, compared to a loss of 1.9 million yuan, or a loss of 0 fen per share, in the year-earlier period.

As of May 12, US$1 was equivalent to 6.51 yuan.