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Huaiji Dengyun Auto-Parts Q2 loss narrows YOY

Huaiji Dengyun Auto-Parts (Holding) Co. Ltd. said its second-quarter normalized net income came to a loss of 698,100 yuan, compared with a loss of 8.8 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 0.0% from negative 15.8% in the year-earlier period.

Total revenue climbed 24.7% year over year to 69.6 million yuan from 55.8 million yuan, and total operating expenses grew from the prior-year period to 68.3 million yuan from 66.6 million yuan.

Reported net income came to a loss of 914,540 yuan, or a loss of 1 fen per share, compared to a loss of 14.0 million yuan, or a loss of 16 fen per share, in the prior-year period.

As of Aug. 30, US$1 was equivalent to 6.67 yuan.