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Chuying Agro-pastoral Q1 loss widens 11.7% YOY

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Chuying Agro-pastoral Q1 loss widens 11.7% YOY

Chuying Agro-pastoral Group Co., Ltd said its first-quarter normalized net income came to a loss of 2 fen per share, compared with a loss of 2 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 56.8 million yuan, compared with a loss of 50.9 million yuan in the prior-year period.

The normalized profit margin climbed to negative 11.1% from negative 16.5% in the year-earlier period.

Total revenue climbed 49.1% on an annual basis to 458.1 million yuan from 307.3 million yuan, and total operating expenses rose 44.3% on an annual basis to 511.8 million yuan from 354.6 million yuan.

Reported net income totaled a loss of 87.9 million yuan, or a loss of 3 fen per share, compared to a loss of 83.3 million yuan, or a loss of 3 fen per share, in the prior-year period.

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