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Jiangsu Chunlan Refrigerating Q2 loss narrows YOY

Jiangsu chunlan refrigerating equipment stock co.ltd. said its second-quarter normalized net income amounted to a loss of 4.5 million yuan, compared with a loss of 11.6 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 rose to negative 6.1% from negative 18.6% in the year-earlier period.

Total revenue grew 9.1% year over year to 67.8 million yuan from 62.2 million yuan, and total operating expenses increased from the prior-year period to 86.1 million yuan from 82.5 million yuan.

Reported net income totaled a loss of 9.8 million yuan, or a loss of 2 fen per share, compared to a loss of 20.6 million yuan, or a loss of 4 fen per share, in the year-earlier period.

As of Aug. 31, US$1 was equivalent to 6.68 yuan.