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FuJian YanJing HuiQuan Brewery Q1 loss narrows YOY

FuJian YanJing HuiQuan Brewery Co. Ltd. said its normalized net income for the first quarter came to a loss of 4 fen per share, compared with a loss of 4 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 8.6 million yuan, compared with a loss of 9.4 million yuan in the year-earlier period.

The normalized profit margin increased to negative 5.4% from negative 6.1% in the year-earlier period.

Total revenue increased on an annual basis to 159.3 million yuan from 152.9 million yuan, and total operating expenses came to 176.3 million yuan, compared with 176.7 million yuan in the prior-year period.

Reported net income came to a loss of 14.1 million yuan, or a loss of 6 fen per share, compared to a loss of 15.3 million yuan, or a loss of 6 fen per share, in the year-earlier period.

As of April 22, US$1 was equivalent to 6.19 yuan.