Sichuan Jinyu Automobile City (Group) Co. Ltd. said its normalized net income for the first quarter amounted to a loss of 263,280 yuan, compared with a loss of 2.0 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 climbed to negative 1.1% from negative 8.4% in the year-earlier period.
Total revenue rose 5.8% year over year to 24.5 million yuan from 23.2 million yuan, and total operating expenses grew year over year to 22.4 million yuan from 21.9 million yuan.
Reported net income totaled a loss of 1.5 million yuan, or a loss of 1 fen per share, compared to a loss of 4.0 million yuan, or a loss of 3 fen per share, in the year-earlier period.
As of April 28, US$1 was equivalent to 6.20 yuan.
