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HMT (Xiamen) New Technical Materials Q2 profit climbs 23.3% YOY

HMT (Xiamen) New Technical Materials Co. Ltd said its normalized net income for the second quarter was 12 fen per share, a decline of 7.5% from 13 fen per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 25.1 million yuan, a gain of 23.3% from 20.4 million yuan in the prior-year period.

The normalized profit margin climbed to 18.6% from 16.6% in the year-earlier period.

Total revenue rose 20.3% year over year to 147.5 million yuan from 122.6 million yuan, and total operating expenses grew 21.2% year over year to 109.1 million yuan from 90.0 million yuan.

Reported net income increased 18.3% on an annual basis to 33.8 million yuan, or 16 fen per share, from 28.6 million yuan, or 18 fen per share.

As of Aug. 19, US$1 was equivalent to 6.40 yuan.