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Aerospace Hi-Tech Holding Q4 profit climbs 45.1% YOY

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Aerospace Hi-Tech Holding Q4 profit climbs 45.1% YOY

Aerospace Hi-Tech Holding Group Co. Ltd. said its fourth-quarter normalized net income came to 8 fen per share, a gain of 45.3% from 5 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 50.6 million yuan, a gain of 45.1% from 34.9 million yuan in the year-earlier period.

The normalized profit margin declined to 1.2% from 1.3% in the year-earlier period.

Total revenue rose 59.5% year over year to 4.29 billion yuan from 2.69 billion yuan, and total operating expenses increased 59.2% year over year to 4.14 billion yuan from 2.60 billion yuan.

Reported net income rose 66.5% year over year to 74.7 million yuan, or 11 fen per share, from 44.9 million yuan, or 7 fen per share.

For the year, the company's normalized net income totaled 15 fen per share, an increase from 14 fen per share in the prior year.

Normalized net income was 60.7 million yuan, a gain from 59.1 million yuan in the prior year.

Full-year total revenue increased 40.9% year over year to 5.48 billion yuan from 3.89 billion yuan, and total operating expenses grew 40.4% on an annual basis to 5.31 billion yuan from 3.78 billion yuan.

The company said reported net income increased 39.2% year over year to 102.6 million yuan, or 25 fen per share, in the full year, from 73.7 million yuan, or 18 fen per share.

As of April 26, US$1 was equivalent to 6.89 yuan.