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Hainan Dadonghai Tourism Centre swings to loss in Q1

Hainan Dadonghai Tourism Centre (Holdings) Co. Ltd. said its first-quarter normalized net income was a loss of 842,240 yuan, compared with income of 421,500 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 fell to negative 1.1% from 5.0% in the year-earlier period.

Total revenue declined 26.1% year over year to 6.3 million yuan from 8.5 million yuan, and total operating expenses declined year over year to 7.6 million yuan from 7.8 million yuan.

Reported net income totaled a loss of 112,930 yuan, or a loss of 0 fen per share, compared to income of 505,800 yuan, or 0 fen per share, in the year-earlier period.

As of April 28, US$1 was equivalent to 6.20 yuan.