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Hubei Wuchangyu Q2 loss narrows YOY

Hubei Wuchangyu Co. Ltd. said its second-quarter normalized net income came to a loss of 1 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 6.0 million yuan, compared with a loss of 10.8 million yuan in the prior-year period.

Total revenue decreased 51.1% year over year to 763,590 yuan from 1.6 million yuan, and total operating expenses declined 55.4% year over year to 6.2 million yuan from 14.0 million yuan.

Reported net income totaled a loss of 9.7 million yuan, or a loss of 2 fen per share, compared to a loss of 17.0 million yuan, or a loss of 3 fen per share, in the year-earlier period.

As of Aug. 25, US$1 was equivalent to 6.66 yuan.