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Chongqing Fuling Zhacai Q1 profit climbs 25.5% YOY

Chongqing Fuling Zhacai Group Co. Ltd. said its normalized net income for the first quarter was 4 fen per share, a gain of 25.0% from 3 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 29.2 million yuan, a gain of 25.5% from 23.2 million yuan in the year-earlier period.

The normalized profit margin increased to 13.4% from 11.4% in the year-earlier period.

Total revenue climbed 10.7% year over year to 225.0 million yuan from 203.1 million yuan, and total operating expenses rose 6.9% from the prior-year period to 182.9 million yuan from 171.1 million yuan.

Reported net income rose 11.5% year over year to 40.7 million yuan, or 5 fen per share, from 36.5 million yuan, or 5 fen per share.

As of April 16, US$1 was equivalent to 6.19 yuan.