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Yinchuan Xinhua Commercial Q3 profit falls YOY

Yinchuan Xinhua Commercial (Group) Co. Ltd. said its normalized net income for the third quarter came to 6 fen per share, a decline of 16.2% from 8 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 14.6 million yuan, a decline of 16.2% from 17.4 million yuan in the year-earlier period.

The normalized profit margin fell to 0.9% from 1.0% in the year-earlier period.

Total revenue fell year over year to 1.65 billion yuan from 1.70 billion yuan, and total operating expenses fell on an annual basis to 1.63 billion yuan from 1.67 billion yuan.

Reported net income came to 11.1 million yuan, or 5 fen per share, compared to 11.1 million yuan, or 5 fen per share, in the prior-year period.

As of Oct. 19, US$1 was equivalent to 6.73 yuan.