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Liaoning Shidai Wanheng Q1 loss widens YOY

Liaoning Shidai Wanheng Co. Ltd. said its normalized net income for the first quarter amounted to a loss of 9 fen per share, compared with a loss of 2 fen per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 17.1 million yuan, compared with a loss of 4.2 million yuan in the year-earlier period.

The normalized profit margin fell to negative 10.1% from negative 2.6% in the year-earlier period.

Total revenue rose on an annual basis to 168.5 million yuan from 160.8 million yuan, and total operating expenses climbed 13.8% year over year to 183.9 million yuan from 161.6 million yuan.

Reported net income came to a loss of 29.2 million yuan, or a loss of 16 fen per share, compared to a loss of 9.1 million yuan, or a loss of 5 fen per share, in the year-earlier period.

As of April 29, US$1 was equivalent to 6.20 yuan.