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Shenyang Commercial City Q2 loss narrows YOY

Shenyang Commercial City Co. Ltd. said its normalized net income for the second quarter came to a loss of 15 fen per share, compared with a loss of 20 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 25.3 million yuan, compared with a loss of 36.7 million yuan in the year-earlier period.

The normalized profit margin climbed to negative 8.9% from negative 11.0% in the year-earlier period.

Total revenue fell 14.7% on an annual basis to 284.3 million yuan from 333.4 million yuan, and total operating expenses declined 16.5% year over year to 296.5 million yuan from 355.2 million yuan.

Reported net income came to a loss of 41.2 million yuan, or a loss of 24 fen per share, compared to a loss of 60.2 million yuan, or a loss of 33 fen per share, in the year-earlier period.

As of Aug. 20, US$1 was equivalent to 6.39 yuan.