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Shaanxi Fenghuo Electronics Q1 loss narrows YOY

Shaanxi Fenghuo Electronics Co. Ltd. said its first-quarter normalized net income was a loss of 3.2 million yuan, compared with a loss of 8.5 million yuan in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin climbed to negative 2.2% from negative 8.4% in the year-earlier period.

Total revenue grew 47.7% year over year to 148.6 million yuan from 100.6 million yuan, and total operating expenses rose 23.3% on an annual basis to 151.5 million yuan from 122.9 million yuan.

Reported net income came to a loss of 5.6 million yuan, or a loss of 1 fen per share, compared to a loss of 19.0 million yuan, or a loss of 3 fen per share, in the year-earlier period.

As of April 26, US$1 was equivalent to 6.50 yuan.