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XinJiang Korla Pear Q3 loss narrows YOY

XinJiang Korla Pear Co. Ltd. said its third-quarter normalized net income came to a loss of 525,200 yuan, compared with a loss of 1.6 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 increased to negative 4.1% from negative 35.4% in the year-earlier period.

Total revenue grew on an annual basis to 12.8 million yuan from 4.5 million yuan, and total operating expenses rose 94.2% on an annual basis to 14.0 million yuan from 7.2 million yuan.

Reported net income totaled a loss of 1.0 million yuan, or a loss of 1 fen per share, compared to a loss of 2.5 million yuan, or a loss of 2 fen per share, in the year-earlier period.

As of Oct. 21, US$1 was equivalent to 6.77 yuan.