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Aucma Q2 profit falls YOY

Aucma Co.Ltd. said its second-quarter normalized net income amounted to 3 fen per share, a decrease of 44.2% from 6 fen per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 21.1 million yuan, a decrease of 44.3% from 37.9 million yuan in the year-earlier period.

The normalized profit margin fell to 2.0% from 3.1% in the year-earlier period.

Total revenue decreased year over year to 1.17 billion yuan from 1.22 billion yuan, and total operating expenses fell year over year to 1.13 billion yuan from 1.16 billion yuan.

Reported net income declined 33.3% from the prior-year period to 34.6 million yuan, or 5 fen per share, from 51.8 million yuan, or 8 fen per share.

As of Aug. 30, US$1 was equivalent to 6.67 yuan.