trending Market Intelligence /marketintelligence/en/news-insights/trending/075m7z0Jrp0uXklP6UC6OA2 content esgSubNav
In This List

MeiHua Holdings Q4 profit falls YOY

Blog

Gold - Geopolitical tensions and inflation remain key drivers

Podcast

Street Talk | Episode 94: Recessionary fears in ’22 overblown, Fed could overtighten

Blog

Insight Weekly: Ukraine war impact on mining; US bank growth slowdown; cloud computing headwinds

Blog

2022 broadband forecast shifts to market share battle with intense competition


MeiHua Holdings Q4 profit falls YOY

MeiHua Holdings Group Co. Ltd. said its normalized net income for the fourth quarter was 8.4 million yuan, a fall of 87.1% from 64.9 million yuan in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin declined to 1.4% from 2.5% in the year-earlier period.

Total revenue rose 17.2% on an annual basis to 3.03 billion yuan from 2.59 billion yuan, and total operating expenses climbed 28.7% year over year to 2.89 billion yuan from 2.24 billion yuan.

Reported net income decreased 81.7% on an annual basis to 41.9 million yuan, or 2 fen per share, from 229.0 million yuan, or 7 fen per share.

For the year, the company's normalized net income totaled 8 fen per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 31 fen.

EPS declined from 9 fen in the prior year.

Normalized net income was 248.0 million yuan, a decline of 7.1% from 267.0 million yuan in the prior year.

Full-year total revenue grew 20.2% from the prior-year period to 11.85 billion yuan from 9.86 billion yuan, and total operating expenses grew 21.9% year over year to 10.94 billion yuan from 8.98 billion yuan.

The company said reported net income declined 15.0% year over year to 425.5 million yuan, or 14 fen per share, in the full year, from 500.3 million yuan, or 16 fen per share.

As of Feb. 29, US$1 was equivalent to 6.56 yuan.