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Dalian Dafu Enterprises Q1 loss narrows YOY

Dalian Dafu Enterprises Holdings Co. Ltd. said its normalized net income for the first quarter amounted to a loss of 8.6 million yuan, compared with a loss of 11.0 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 1.2% from negative 69.9% in the year-earlier period.

Total revenue rose on an annual basis to 725.2 million yuan from 15.7 million yuan, and total operating expenses grew on an annual basis to 733.7 million yuan from 28.8 million yuan.

Reported net income totaled a loss of 13.5 million yuan, or a loss of 1 fen per share, compared to a loss of 19.7 million yuan, or a loss of 1 fen per share, in the year-earlier period.

As of April 29, US$1 was equivalent to 6.48 yuan.