China Energy Development Holdings Ltd said its first-half normalized net income was a loss of HK$9.2 million, compared with a loss of HK$11.7 million in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

Total revenue decreased 85.5% on an annual basis to HK$782,000 from HK$5.4 million, and total operating expenses fell 24.2% on an annual basis to HK$13.3 million from HK$17.5 million.

Reported net income totaled a loss of HK$19.6 million, or a loss of 0 cents per share, compared to a loss of HK$40.3 million, or a loss of 0 cents per share, in the prior-year period.