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Zhejiang Yinlun Machinery Q2 profit climbs 8.3% YOY

Zhejiang Yinlun Machinery Co. Ltd. said its normalized net income for the second quarter came to 5 fen per share, an increase of 6.1% from 5 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 39.5 million yuan, an increase of 8.3% from 36.4 million yuan in the year-earlier period.

The normalized profit margin climbed to 5.8% from 4.8% in the year-earlier period.

Total revenue climbed year over year to 771.8 million yuan from 752.3 million yuan, and total operating expenses totaled 693.4 million yuan, compared with 691.8 million yuan in the year-earlier period.

Reported net income rose 15.3% year over year to 61.8 million yuan, or 8 fen per share, from 53.6 million yuan, or 7 fen per share.

As of Aug. 25, US$1 was equivalent to 6.66 yuan.