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Jinfa Labi Maternity Q1 profit falls YOY

Jinfa Labi Maternity & Baby Articles Co. Ltd. said its normalized net income for the first quarter was 9 fen per share, a decline of 18.7% from 11 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 13.5 million yuan, a decline of 18.8% from 16.6 million yuan in the prior-year period.

The normalized profit margin fell to 17.1% from 18.6% in the year-earlier period.

Total revenue declined 12.4% year over year to 78.1 million yuan from 89.2 million yuan, and total operating expenses declined 11.7% from the prior-year period to 56.2 million yuan from 63.7 million yuan.

Reported net income decreased 18.3% year over year to 16.1 million yuan, or 11 fen per share, from 19.7 million yuan, or 13 fen per share.

As of May 25, US$1 was equivalent to 6.20 yuan.