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China Taisan Technology Q1 loss narrows YOY

China Taisan Technology Group Holdings Ltd said its normalized net income for the first quarter came to a loss of 8 fen per share, compared with a loss of 13 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 4.2 million yuan, compared with a loss of 7.1 million yuan in the year-earlier period.

The normalized profit margin climbed to negative 6.1% from negative 12.0% in the year-earlier period.

Total revenue rose 16.4% year over year to 69.1 million yuan from 59.4 million yuan, and total operating expenses rose 7.2% year over year to 75.4 million yuan from 70.3 million yuan.

Reported net income totaled a loss of 6.8 million yuan, or a loss of 12 fen per share, compared to a loss of 11.4 million yuan, or a loss of 20 fen per share, in the year-earlier period.

As of April 29, US$1 was equivalent to 6.48 yuan.