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CITIC Guoan Wine Q3 loss narrows YOY

CITIC Guoan Wine Co. Ltd. said its normalized net income for the third quarter came to a loss of 1 fen per share, compared with a loss of 3 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 14.0 million yuan, compared with a loss of 33.2 million yuan in the prior-year period.

The normalized profit margin climbed to negative 19.7% from negative 112.0% in the year-earlier period.

Total revenue climbed year over year to 69.5 million yuan from 29.7 million yuan, and total operating expenses grew 23.8% year over year to 95.2 million yuan from 76.9 million yuan.

Reported net income totaled a loss of 22.4 million yuan, or a loss of 2 fen per share, compared to a loss of 53.6 million yuan, or a loss of 5 fen per share, in the year-earlier period.

As of Oct. 28, US$1 was equivalent to 6.78 yuan.