Shenyang Jinbei Automotive Co. Ltd. said its normalized net income for the first quarter came to a loss of 213,450 yuan, compared with a loss of 3.6 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 0.1% from negative 0.3% in the year-earlier period.
Total revenue decreased on an annual basis to 1.34 billion yuan from 1.38 billion yuan, and total operating expenses fell year over year to 1.26 billion yuan from 1.32 billion yuan.
Reported net income came to 971,730 yuan, or 0 fen per share, compared to 1.6 million yuan, or 0 fen per share, in the prior-year period.
As of April 22, US$1 was equivalent to 6.19 yuan.
