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Xinglong Holding (Group) Q2 loss widens 23.7% YOY

Xinglong Holding (Group) Co. Ltd. said its second-quarter normalized net income was a loss of 5.2 million yuan, compared with a loss of 4.2 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 fell to negative 6.5% from negative 5.6% in the year-earlier period.

Total revenue rose 6.1% on an annual basis to 79.7 million yuan from 75.1 million yuan, and total operating expenses grew 5.8% from the prior-year period to 86.5 million yuan from 81.8 million yuan.

Reported net income came to a loss of 9.0 million yuan, or a loss of 2 fen per share, compared to a loss of 6.8 million yuan, or a loss of 1 fen per share, in the year-earlier period.

As of Aug. 7, US$1 was equivalent to 6.21 yuan.