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Shanghai Shenhua Holdings Q1 loss narrows YOY

Shanghai Shenhua Holdings Co. Ltd. said its normalized net income for the first quarter amounted to a loss of 1 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 22.4 million yuan, compared with a loss of 26.8 million yuan in the prior-year period.

The normalized profit margin increased to 1.9% from negative 1.9% in the year-earlier period.

Total revenue grew year over year to 1.49 billion yuan from 1.44 billion yuan, and total operating expenses rose 6.4% from the prior-year period to 1.54 billion yuan from 1.45 billion yuan.

Reported net income totaled 43.6 million yuan, or 3 fen per share, compared to a loss of 41.7 million yuan, or a loss of 2 fen per share, in the year-earlier period.

As of April 24, US$1 was equivalent to 6.19 yuan.