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Beijing Unistrong Q1 loss widens 20.0% YOY

Beijing Unistrong Science & Technology Co. Ltd. said its first-quarter normalized net income was a loss of 1 fen per share, compared with a loss of 1 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 8.1 million yuan, compared with a loss of 6.8 million yuan in the year-earlier period.

The normalized profit margin climbed to negative 6.1% from negative 7.1% in the year-earlier period.

Total revenue grew 34.6% on an annual basis to 128.8 million yuan from 95.7 million yuan, and total operating expenses increased 25.2% year over year to 144.9 million yuan from 115.8 million yuan.

Reported net income totaled a loss of 16.6 million yuan, or a loss of 3 fen per share, compared to a loss of 13.1 million yuan, or a loss of 2 fen per share, in the prior-year period.

As of April 19, US$1 was equivalent to 6.46 yuan.