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ZMFY Automobile Glass Q2 loss widens 8.4% YOY

ZMFY Automobile Glass Services Ltd said its second-quarter normalized net income came to a loss of 5.8 million yuan, compared with a loss of 5.4 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 increased to negative 17.4% from negative 17.5% in the year-earlier period.

Total revenue grew 9.5% on an annual basis to 33.7 million yuan from 30.8 million yuan, and total operating expenses grew 9.0% year over year to 43.0 million yuan from 39.5 million yuan.

Reported net income came to a loss of 9.4 million yuan, or a loss of 1 fen per share, compared to a loss of 8.8 million yuan, or a loss of 2 fen per share, in the prior-year period.

As of Aug. 11, US$1 was equivalent to 6.64 yuan.