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Changbai Mountain Tourism swings to profit in Q2

Changbai Mountain Tourism Co. Ltd. said its normalized net income for the second quarter amounted to 2.0 million yuan, compared with a loss of 1.3 million yuan in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin rose to 4.9% from negative 3.5% in the year-earlier period.

Total revenue climbed 11.0% on an annual basis to 40.6 million yuan from 36.6 million yuan, and total operating expenses fell from the prior-year period to 38.2 million yuan from 39.3 million yuan.

Reported net income increased year over year to 4.0 million yuan, or 1 fen per share, from 756,920 yuan, or 0 fen per share.

As of Aug. 7, US$1 was equivalent to 6.21 yuan.