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Fujian SBS Zipper Science & Technology Q1 profit falls YOY

Fujian SBS Zipper Science&Technology Co. Ltd said its normalized net income for the first quarter was 152,460 yuan, a decrease of 96.9% from 5.0 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 0.9% from 2.7% in the year-earlier period.

Total revenue climbed year over year to 187.4 million yuan from 183.9 million yuan, and total operating expenses climbed year over year to 180.2 million yuan from 175.3 million yuan.

Reported net income decreased 81.1% on an annual basis to 1.1 million yuan, or 0 fen per share, from 5.8 million yuan, or 2 fen per share.

As of April 29, US$1 was equivalent to 6.20 yuan.