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Liuzhou Liangmianzhen Q2 loss widens 41.3% YOY

Liuzhou Liangmianzhen Co. Ltd. said its normalized net income for the second quarter amounted to a loss of 3 fen per share, compared with a loss of 3 fen per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 18.0 million yuan, compared with a loss of 12.8 million yuan in the year-earlier period.

The normalized profit margin fell to negative 4.5% from negative 4.3% in the year-earlier period.

Total revenue climbed 21.3% year over year to 356.7 million yuan from 294.0 million yuan, and total operating expenses grew 20.1% on an annual basis to 401.1 million yuan from 334.0 million yuan.

Reported net income came to a loss of 31.3 million yuan, or a loss of 6 fen per share, compared to a loss of 27.2 million yuan, or a loss of 6 fen per share, in the prior-year period.

As of Aug. 17, US$1 was equivalent to 6.40 yuan.