Nanjing Sinolife United Company Ltd said its normalized net income for the first half came to 4 fen per share, a decline of 22.9% from 5 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 32.8 million yuan, a decline of 21.9% from 42.0 million yuan in the year-earlier period.

Total revenue increased 25.3% on an annual basis to 186.8 million yuan from 149.0 million yuan, and total operating expenses grew 56.2% on an annual basis to 136.5 million yuan from 87.4 million yuan.

Reported net income declined 20.9% from the prior-year period to 37.8 million yuan, or 4 fen per share, from 47.7 million yuan, or 6 fen per share.

As of Sept. 23, US$1 was equivalent to 6.67 yuan.