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Zhongbai Holdings Q2 loss widens YOY

Zhongbai Holdings Group Co. Ltd. said its second-quarter normalized net income was a loss of 9 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 60.4 million yuan, compared with a loss of 11.7 million yuan in the prior-year period.

The normalized profit margin declined to negative 1.2% from negative 0.3% in the year-earlier period.

Total revenue fell 10.8% on an annual basis to 3.45 billion yuan from 3.87 billion yuan, and total operating expenses declined 8.8% year over year to 3.53 billion yuan from 3.87 billion yuan.

Reported net income came to a loss of 66.3 million yuan, or a loss of 10 fen per share, compared to a loss of 27.7 million yuan, or a loss of 4 fen per share, in the year-earlier period.

As of Aug. 23, US$1 was equivalent to 6.64 yuan.