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K-Star Sports Q3 loss widens 12.7% YOY

K-Star Sports Ltd said its third-quarter normalized net income came to a loss of 3 fen per share, compared with a loss of 3 fen per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 8.1 million yuan, compared with a loss of 7.2 million yuan in the prior-year period.

The normalized profit margin declined to negative 10.7% from negative 9.1% in the year-earlier period.

Total revenue decreased on an annual basis to 75.6 million yuan from 78.4 million yuan, and total operating expenses decreased on an annual basis to 85.9 million yuan from 89.6 million yuan.

Reported net income came to a loss of 12.9 million yuan, or a loss of 5 fen per share, compared to a loss of 11.5 million yuan, or a loss of 4 fen per share, in the year-earlier period.

As of Nov. 25, US$1 was equivalent to 6.92 yuan.