Ningxia Western Venture Industrial Co. Ltd. said its normalized net income for the first half was 45.6 million yuan.

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

Total revenue came to 287.4 million yuan, and total operating expenses came to 209.7 million yuan.

Reported net income totaled 61.4 million yuan, or 2 fen per share.

As of Nov. 20, US$1 was equivalent to 6.39 yuan.