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Jiangsu Chunlan Refrigerating Q3 loss widens 64.2% YOY

Jiangsu chunlan refrigerating equipment stock co.ltd. said its third-quarter normalized net income came to a loss of 3 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 15.2 million yuan, compared with a loss of 9.2 million yuan in the prior-year period.

The normalized profit margin fell to negative 35.6% from negative 14.9% in the year-earlier period.

Total revenue declined 29.0% on an annual basis to 44.1 million yuan from 62.1 million yuan, and total operating expenses declined 15.6% year over year to 72.3 million yuan from 85.6 million yuan.

Reported net income totaled a loss of 16.9 million yuan, or a loss of 3 fen per share, compared to a loss of 28.7 million yuan, or a loss of 6 fen per share, in the prior-year period.

As of Oct. 28, US$1 was equivalent to 6.78 yuan.