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Xinjiang Youhao swings to loss in Q2

Xinjiang Youhao(Group)Co.Ltd said its second-quarter normalized net income was a loss of 19 fen per share, compared with 10 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 58.3 million yuan, compared with income of 30.4 million yuan in the year-earlier period.

The normalized profit margin fell to negative 4.3% from 2.0% in the year-earlier period.

Total revenue decreased 10.6% on an annual basis to 1.33 billion yuan from 1.49 billion yuan, and total operating expenses declined 9.5% year over year to 1.40 billion yuan from 1.54 billion yuan.

Reported net income came to a loss of 95.7 million yuan, or a loss of 31 fen per share, compared to income of 50.7 million yuan, or 16 fen per share, in the year-earlier period.

As of Aug. 11, US$1 was equivalent to 6.64 yuan.