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Shenzhen Tellus Holding Q4 profit climbs YOY

Shenzhen Tellus Holding Co. Ltd. said its normalized net income for the fourth quarter was 15.7 million yuan, a rise from 1.6 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 rose to 21.8% from 1.3% in the year-earlier period.

Total revenue decreased 42.5% year over year to 71.9 million yuan from 125.1 million yuan, and total operating expenses fell 50.8% from the prior-year period to 65.5 million yuan from 133.2 million yuan.

Reported net income grew year over year to 24.1 million yuan, or 8 fen per share, from 6.2 million yuan, or 3 fen per share.

For the year, the company's normalized net income totaled 11 fen per share, an increase from 3 fen per share in the prior year.

Normalized net income was 29.4 million yuan, an increase from 7.5 million yuan in the prior year.

Full-year total revenue fell 34.7% year over year to 303.7 million yuan from 465.0 million yuan, and total operating expenses decreased 41.1% year over year to 273.4 million yuan from 464.0 million yuan.

The company said reported net income rose on an annual basis to 42.8 million yuan, or 15 fen per share, in the full year, from 10.3 million yuan, or 5 fen per share.

As of April 14, US$1 was equivalent to 6.49 yuan.