Guanghe Landscape Culture Communication Co. Ltd. said its normalized net income for the first quarter was a loss of 229,200 yuan, compared with a loss of 5.1 million yuan in the prior-year period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
The normalized profit margin climbed to 29.0% from negative 185.6% in the year-earlier period.
Total revenue climbed 12.4% on an annual basis to 3.1 million yuan from 2.7 million yuan, and total operating expenses decreased 73.5% year over year to 2.6 million yuan from 9.7 million yuan.
Reported net income came to a loss of 1.7 million yuan, or a loss of 1 fen per share, compared to a loss of 10.5 million yuan, or a loss of 5 fen per share, in the year-earlier period.
As of April 28, US$1 was equivalent to 6.48 yuan.