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Jinfa Labi Maternity Q2 profit falls YOY

Jinfa Labi Maternity & Baby Articles Co. Ltd said its second-quarter normalized net income amounted to 6 fen per share, a decline of 14.0% from 7 fen per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 11.9 million yuan, a decrease of 15.0% from 14.0 million yuan in the year-earlier period.

The normalized profit margin dropped to 14.6% from 14.8% in the year-earlier period.

Total revenue declined 13.7% year over year to 82.1 million yuan from 95.1 million yuan, and total operating expenses decreased 11.8% year over year to 65.6 million yuan from 74.4 million yuan.

Reported net income fell 13.1% on an annual basis to 14.4 million yuan, or 7 fen per share, from 16.6 million yuan, or 8 fen per share.

As of Aug. 24, US$1 was equivalent to 6.66 yuan.