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Shenyang Cuihua Gold & Silver Jewelry Q2 profit climbs 59.0% YOY

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Shenyang Cuihua Gold & Silver Jewelry Q2 profit climbs 59.0% YOY

Shenyang Cuihua Gold and Silver Jewelry Co. Ltd. said its second-quarter normalized net income came to 13 fen per share, a gain of 36.2% from 10 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 22.4 million yuan, a gain of 59.0% from 14.1 million yuan in the year-earlier period.

The normalized profit margin rose to 3.9% from 1.8% in the year-earlier period.

Total revenue declined 26.3% year over year to 585.5 million yuan from 794.8 million yuan, and total operating expenses decreased 29.9% on an annual basis to 539.8 million yuan from 769.9 million yuan.

Reported net income increased 39.5% on an annual basis to 12.0 million yuan, or 7 fen per share, from 8.6 million yuan, or 6 fen per share.

As of Aug. 23, US$1 was equivalent to 6.64 yuan.