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Pou Sheng International Q2 profit climbs 98.1% YOY

Pou Sheng International (Holdings) Ltd said its second-quarter normalized net income amounted to 182.7 million yuan, an increase of 98.1% from 92.2 million yuan in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin climbed to 4.2% from 2.4% in the year-earlier period.

Total revenue rose 10.2% on an annual basis to 4.19 billion yuan from 3.81 billion yuan, and total operating expenses climbed 8.4% on an annual basis to 3.89 billion yuan from 3.59 billion yuan.

Reported net income came to 233.6 million yuan, compared with 108.9 million yuan in the prior-year period.

As of Sept. 5, US$1 was equivalent to 6.68 yuan.