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Yantai Changyu Pioneer Wine profit misses consensus by 17.7% in Q1

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Yantai Changyu Pioneer Wine profit misses consensus by 17.7% in Q1

Yantai Changyu Pioneer Wine Co. Ltd. said its first-quarter normalized net income was 63 fen per share, compared with the S&P Capital IQ consensus estimate of 77 fen per share.

EPS rose 13.7% year over year from 56 fen.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 436.5 million yuan, a gain of 14.7% from 380.6 million yuan in the year-earlier period.

The normalized profit margin dropped to 24.1% from 25.2% in the year-earlier period.

Total revenue grew 21.0% year over year to 1.83 billion yuan from 1.51 billion yuan, and total operating expenses climbed 23.9% year over year to 1.13 billion yuan from 914.7 million yuan.

Reported net income increased 15.9% from the prior-year period to 530.2 million yuan, or 77 fen per share, from 457.5 million yuan, or 67 fen per share.

As of April 29, US$1 was equivalent to 6.20 yuan.