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Jiangsu Sunshine Q2 profit climbs YOY

Jiangsu Sunshine Co. Ltd. said its normalized net income for the second quarter came to 17.8 million yuan, a rise from 17.3 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 climbed to 3.1% from 2.7% in the year-earlier period.

Total revenue decreased 7.9% on an annual basis to 583.9 million yuan from 633.7 million yuan, and total operating expenses decreased 9.4% year over year to 517.9 million yuan from 571.9 million yuan.

Reported net income came to 23.2 million yuan, or 1 fen per share, compared to 23.3 million yuan, or 1 fen per share, in the prior-year period.

As of Aug. 18, US$1 was equivalent to 6.39 yuan.