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SUNA Co. Ltd. Q1 loss narrows YOY

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SUNA Co. Ltd. Q1 loss narrows YOY

SUNA Co.Ltd. said its normalized net income for the first quarter was a loss of 5 fen per share, compared with a loss of 8 fen per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 12.8 million yuan, compared with a loss of 20.7 million yuan in the prior-year period.

The normalized profit margin climbed to negative 44.3% from negative 50.8% in the year-earlier period.

Total revenue fell 31.8% year over year to 27.8 million yuan from 40.8 million yuan, and total operating expenses declined 37.8% year over year to 45.1 million yuan from 72.5 million yuan.

Reported net income totaled a loss of 28.7 million yuan, or a loss of 11 fen per share, compared to a loss of 44.2 million yuan, or a loss of 16 fen per share, in the year-earlier period.

As of April 27, US$1 was equivalent to 6.50 yuan.